Marsh & McLennan Agency Acquires Progressive Benefit Solutions
08 6월 2012 - 10:00PM
Business Wire
Marsh & McLennan Agency LLC (MMA), a subsidiary of broker
Marsh Inc., today announced that it has acquired Progressive
Benefit Solutions (PBS), a $5 million revenue employee benefits
agency based in Raleigh, North Carolina. Terms of the transaction
were not disclosed.
PBS will operate as a division of Rutherfoord, a Marsh &
McLennan Agency LLC company, expanding Rutherfoord’s employee
benefits capabilities and resources in the Raleigh market. PBS
offers a wide-range of health, wellness, compliance, and executive
compensation products and services to midsize clients. John
McDonnell, William Salmon, Rick Kelly, and the rest of the PBS team
will join Rutherfoord and continue operating out of PBS’ existing
Raleigh office. The transaction is the fourth complementary
acquisition for Rutherfoord/MMA.
“We are delighted to welcome Progressive Benefit Solutions’
talented and experienced employee benefit professionals to
Rutherfoord,” said Thomas R. Brown, Vice Chairman of
Rutherfoord/MMA. “With PBS, we are able to offer greater resources
and a broader platform to serve the needs of our clients in Eastern
North Carolina and beyond.”
“We’re thrilled to be joining Rutherfoord/MMA and view this move
as an excellent opportunity for PBS to build on the success it has
built over the last 14 years,” said William Salmon, Co-Founder of
PBS. “As a part of Rutherfoord/MMA, our clients will now have
access to a wider range of products and services to address their
emerging and evolving needs.”
Commenting on the transaction, David Eslick, Chairman and CEO of
Marsh & McLennan Agency said: “PBS is a welcome addition to our
expanding roster of high-quality agencies that now make up Marsh
& McLennan Agency. Spoke acquisitions such as this are an
essential component of our strategy to become one of the nation’s
preeminent insurance agencies 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 autonomously from Marsh to offer commercial
property, casualty, personal lines, and employee benefits to
clients across the U.S.
About Marsh
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 (NYSE: 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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