Marsh & McLennan Agency Enters Canadian Market With Acquisition of Vezina Assurances Inc. and Vezina & Associes Inc.
New York | July 07, 2015
Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh, today announced it has acquired Vézina, a leading independent insurance brokerage firm in Montreal, Quebec. This acquisition includes the property/casualty brokerage division Vézina Assurances Inc. and group benefits division Vézina & Associes. Terms of the transaction were not disclosed.
Vézina marks MMA’s entry into the Canadian market and reinforces MMA’s commitment to serving the risk management and insurance needs of middle market companies throughout the US and now Canada.
"Since embarking on our strategy to build a preeminent middle market insurance firm, our goal has remained the same: to join forces with high quality insurance agencies," said David Eslick, chairman and CEO of MMA. “Vézina’s strong leadership team, mix of business, and emphasis on customer-centric service make it an ideal match for us to expand our strategy into Canada.”
Established in 1978, Vézina is a full-service insurance brokerage firm offering property/casualty insurance and employee benefits services to midsize businesses and individuals throughout Quebec. It generates approximately US$10 million in revenue and has 80 employees, all of whom are joining MMA. Vézina will serve as an MMA platform for future growth in Canada and will continue to be led by co-CEOs Pierre and Patrice Vézina.
“Joining MMA is the logical next step in Vézina’s evolution as it enables us to preserve our culture and service model while offering a wider range of solutions, resources, and specialized expertise to our clients,” said Pierre Vézina.
Patrice Vézina added: “We are thrilled to be joining MMA and being on the forefront of its expansion in Canada.”
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.
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.