NEW YORK, Nov 04, 2011 (BUSINESS WIRE) —
Marsh McLennan Agency LLC (MMA), a subsidiary of insurance broker
Marsh Inc., today announced it has acquired the employee benefits
division of Kaeding, Ernst Company, a Marlborough, Massachusetts-based
employee benefits, life insurance, and financial planning consulting
firm. Terms of the transaction were not disclosed.
The division, with approximately $600,000 in annual revenue, will become
a part of Bostonian Group, a Marsh McLennan Agency company, further
expanding Bostonian’s depth and expertise in employee benefits.
The transaction is the second complementary acquisition for
Bostonian/MMA following the February acquisition of the Boston office of
Kinloch Consulting Group Inc., the employee benefits division of Kinloch
Holdings Inc.
“Kaeding, Ernst has built a strong reputation of delivering trustworthy
advice and innovative solutions to its employee benefit clients. We are
delighted to welcome Tricia Mackoff and Linda DeJordy, two seasoned
employee benefit professionals, to our expanding employee benefits team
at Bostonian,” said Jim Blue, CEO of Bostonian/MMA.
Commenting on the transaction, David Eslick, chairman and CEO of Marsh
McLennan Agency, said: “The addition of these talented individuals to
Bostonian/MMA is part of Marsh McLennan Agency’s strategy to build a
preeminent property, casualty and employee benefits organization
primarily serving the needs of the middle market.”
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
independently from Marsh to offer commercial property, casualty,
personal lines, and employee benefits to clients across the U.S.
About Marsh
Marsh,
the world’s leading insurance broker and risk advisor, teams with its
clients to define, design, and deliver innovative industry-specific
solutions that help them protect their future and thrive. It has around
25,000 colleagues who collaborate to provide advice and transactional
capabilities to clients in over 100 countries. Marsh is a member of Marsh
McLennan Companies, a global professional services firm with
52,000 employees worldwide and annual revenue exceeding $10 billion,
which is also the parent company of Guy
Carpenter, the risk and reinsurance specialist; Mercer,
the provider of HR and related financial advice and services; and Oliver
Wyman, the management consultancy. Its stock (ticker symbol:MMC) is
listed on the New York, Chicago and London stock exchanges. Follow Marsh
on Twitter @Marsh_Inc.
SOURCE: Marsh
Marsh
Sally Roberts, 303-952-9453
sally.roberts@marsh.com
or
Anand Poola, 212-345-4292
anand.poola@marsh.com
Copyright Business Wire 2011
