Marsh & McLennan Agency Acquires Howalt+McDowell Insurance
05 11월 2012 - 11:00PM
Business Wire
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance
broker Marsh Inc., today announced that it has acquired
Howalt+McDowell Insurance, Inc., the largest independent agency in
South Dakota. Terms of the transaction were not disclosed.
Founded in 1946, Howalt+McDowell has annual revenue of
approximately $16 million and offers a wide range of
property/casualty, surety, personal protection, and employee
benefits insurance to individuals and midsize businesses in the
upper Midwest. All of the agency’s leadership and employees,
including CEO Jeff Scherschligt, will join MMA’s upper Midwest hub
and operate out of the firm’s existing Sioux Falls, South Dakota
office.
“With Howalt+McDowell, we are adding high-quality, local talent
and expertise in the upper Midwest to complement and expand the
resources available to our clients,” said David Eslick, chairman
and CEO of MMA. “We welcome Jeff Scherschligt and the rest of the
Howalt+McDowell team to MMA and look forward to expanding our
presence in South Dakota.”
“Joining forces with MMA provides our clients with access to
even greater depth and breadth of risk and benefit expertise and a
wider array of services and solutions to help them grow in this
increasingly challenging risk environment,” Mr. Scherschligt said.
“We are thrilled to become a part of MMA and look forward to
helping to build what is fast becoming one our industry’s top
national agencies.”
Howalt+McDowell is the 23rd acquisition Marsh & McLennan
Agency has completed since it began to build its national platform
in November 2009. MMA currently generates approximately $395
million in annualized revenue.
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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