Marsh & Mclennan Agency Acquires Phoenix-based Lovitt & Touché
New York | April 02, 2019
Marks First Acquisition in Arizona
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced the acquisition of Phoenix, Arizona-based Lovitt & Touché, one of the state’s largest independent insurance agencies. Terms of the acquisition were not disclosed.
Founded in 1911, Lovitt & Touché will add 181 colleagues to MMA from their Phoenix, Tucson, and Las Vegas, Nevada offices. Lovitt & Touché provides commercial property, casualty, personal lines, and employee health and benefits solutions and expertise to businesses throughout Arizona and surrounding states, with particular expertise in the construction, real estate, non-profit, healthcare, and manufacturing industries.
Charlie Touché, Lovitt & Touché CEO since 1998, will lead MMA’s operations in Arizona and the firm will operate as Lovitt & Touché, a Marsh & McLennan Agency LLC company.
David Eslick, CEO of MMA commented: “Arizona is a thriving marketplace for businesses of all sizes, and we are proud to welcome Lovitt & Touché as we expand our national footprint.”
“Lovitt & Touché has had a long-standing reputation for exceptional client service and community involvement in Arizona, mirroring MMA’s own commitment to serving local businesses and communities,” said Paul Hering, Chairman of MMA’s West region. “We are eager to begin working with them as we enter a new market.”
Mr. Touché added: “This new chapter in our company’s history allows us to strengthen our client-centric philosophy by providing clients access to even more innovative tools and solutions. Joining MMA will also provide new opportunities for our colleagues as we continue to serve the dynamic Arizona market and give back to the communities that have supported our success for over a century.”
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.
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. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.