Marsh & McLennan Agency Acquires Vero Insurance
White Plains, New York | October 04, 2016
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced that it has acquired Vero Insurance, Inc., a Vero Beach, Florida-based independent agency specializing in private client insurance services. Terms of the transaction were not disclosed.
Founded in 1960, Vero Insurance specializes in providing high net worth individuals, families, and small businesses along Florida’s Central Atlantic coast with a wide range of insurance products and services. All of Vero Insurance’s 24 employees will join MMA and continue to operate out of the agency’s existing office under the leadership of its president, Jonathan Schwiering.
“Vero Insurance is a well-run and respected high-net-worth private client agency whose local talent and expertise will complement and expand MMA’s capabilities in this important segment,” said Dave Eslick, chairman and CEO of Marsh & McLennan Agency. “We welcome Jonathan Schwiering and his team to MMA.”
“Joining MMA is an excellent opportunity for Vero Insurance to build upon its success over the last five decades,” said Mr. Schwiering. “With access to MMA’s additional expertise and resources, our clients will benefit from a wider range of solutions to address their needs, while continuing to enjoy the same signature personal service they’ve come to expect from Vero.”
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. In 2015, it expanded its national footprint into Canada. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
A global leader in insurance broking and innovative risk management solutions, Marsh’s 30,000 colleagues advise individual and commercial clients of all sizes in over 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue over US$13 billion and more than 60,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms. In addition to Marsh, MMC is the parent company of Guy Carpenter, which develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities; Mercer, which delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce; and Oliver Wyman, a critical strategic, economic and brand advisor to private sector and governmental clients. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.