Marsh & McLennan Agency Acquires Cline Wood Agency
New York | August 03, 2015
Specialty Agency Delivers Transportation and Agribusiness Expertise
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced it has acquired Cline Wood Agency, a suburban Kansas City-based independent specialty insurance agency. Terms of the transaction were not disclosed.
Founded in 1984, Cline Wood specializes in providing property/casualty insurance and risk management and safety services to clients of all sizes operating within the commercial transportation and agribusiness industries. Cline Wood generates $15 million in annual revenues and has 73 employees who operate out of three offices in Leawood, Kansas; Arlington, Texas; and St. Louis, Missouri.
All of Cline Wood’s employees and leadership, including founders John Cline and Mike Wood and CEO Carol Barnett, are joining MMA’s upper Midwest region, which is under the leadership of regional CEO Bill Jeatran.
“Cline Wood’s leadership in transportation and agribusiness was very appealing to us as we continue building our expertise in a variety of industry segments,” said David Eslick, MMA chairman and CEO. “The team, culture, and leaders that John Cline, Mike Wood, and Carol Barnett have assembled will be a great fit with the rest of MMA.”
Cline Wood’s Ms. Barnett added: “Joining MMA gives Cline Wood a unique opportunity to bring more resources to our clients throughout the country, including offering new lines of services such as employee benefits. We’re excited to begin working with the great people across MMA in this endeavor while maintaining our culture, which has gotten us to where we are today.”
Marsh is the world’s leading insurance broker and risk advisor. With around 40,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. With annual revenue over $17 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.