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.
Category: Business Insurance News, Insurance News, Marsh News
Visited 2164 times, 1 so far today
Comments (0)
Trackback URL | Comments RSS Feed
There are no comments yet. Why not be the first to speak your mind.