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Daily Insurance Industry News
Friday 19th of January 2018
December 23, 2009

Marsh supports US expansion with NIA acquisition

by Gill Montia

Story link: Marsh supports US expansion with NIA acquisition

Marsh & McLennan Agency (MMA), which was established by Marsh Inc in 2008 to meet the needs of mid-sized businesses in the US, has acquired NIA Group, LLC.

The purchase forms part of a series of strategic acquisitions by MMA, aimed at building a national business.

NIA is the 34th-largest independent broker in the US and the transaction includes its New York City office, Kornreich-NIA.

Established in 1926, the firm employs around 400 staff and has annual revenue of $62 million.

The broker provides property and casualty insurance, employee benefits, personal insurance plus life insurance / estate planning.

MMA chairman, David Eslick, comments: “The addition of The NIA Group and Kornreich-NIA to our firm gives us a strong operation in the New York metropolitan area and Florida.”

Last week, Marsh Inc acquired HSBC Insurance Brokers Ltd (HIBL), a subsidiary of HSBC Bank.

The unit employs approximately 1,400 people and provides risk intermediary and risk advisory services from 30 offices throughout the UK, Middle East and Asia.

 

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