Marsh & McLennan Agency Acquires Brower Insurance Agency LLC
Ohio Agency to Serve as MMA's Midwest Hub
WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Continuing its strategy to build a national platform, Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced the acquisition of Brower Insurance Agency, one of the largest independent agencies in Ohio. Terms of the transaction were not disclosed.
Founded in 1935 and headquartered in Dayton, Ohio, Brower has annual revenues of approximately $24 million and 164 employees in four Ohio offices: Dayton, Cincinnati, Columbus, and Springfield. Brower provides property/casualty insurance, employee benefits services, and consulting services to midsize businesses and individuals. The firm has specialty practices in surety, construction, health care, transportation, and schools and municipalities.
Brower will serve as MMA's Midwest hub and will seek to expand MMA's footprint in the region through further spoke and fold-in acquisitions. All of Brower's leadership and employees, including Managing Principal Chris McAtee, will join MMA.
"Brower's strong regional presence, top-notch leadership, sales-oriented culture, and diversified mix of business were very attractive as we looked for a quality partner to join MMA," said David Eslick, chairman and CEO of MMA. "We welcome Chris and the rest of the Brower team to MMA and look forward to expanding our presence in the Midwest."
"Joining MMA represents an excellent growth opportunity for Brower," Mr. McAtee said. "As part of MMA, we will be able to continue our strong legacy of developing and delivering innovative, value-driven insurance and risk management programs to our clients while also having access to the support and resources of the world's leading insurance broker and risk advisor."
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the U.S. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.
Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYS: MMC) , a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 53,000 employees worldwide and annual revenue exceeding $11 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in human resource consulting and related services; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.
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