Marsh & McLennan Agency Acquires Protector Group
08 11월 2012 - 11:00PM
Business Wire
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance
broker Marsh Inc., today announced that it has acquired Worcester,
Massachusetts-based The Protector Group Insurance Agency, Inc., one
of the largest independent agencies in New England. Terms of the
transaction were not disclosed.
Founded in 1928, Protector Group offers a wide range of
property/casualty insurance, employee benefits services, personal
insurance, and individual financial services to midsize companies
and individuals in New England. The agency generates approximately
$13.6 million in annual revenues and has 84 employees operating out
of three offices in Massachusetts: Worcester, Leominster, and
Wellesley.
Protector Group will operate out of MMA’s New England hub,
further expanding the region’s employee benefit capabilities and
adding new property/casualty insurance resources. All of the
agency’s leadership and employees, including Bob Vaudreuil and Jack
Cahill, will join MMA and continue to operate out of Protector
Group’s existing offices.
“Protector Group’s strong regional presence, top-notch
leadership, and blend of property/casualty and employee benefits
make it a perfect fit for MMA in New England,” said Jim Blue, CEO
of MMA’s New England region. “With the addition of Protector Group
we double the size of the region and further enhance our ability to
offer property/casualty and employee benefit capabilities to our
clients.”
“Joining MMA represents an exciting opportunity for all of the
members of our firm to build upon the strong foundation we have
built over the last 84 years,” said Mr. Vaudreuil, Protector Group
president and CEO. “Together, MMA and Protector Group will be able
to offer greater resources to our clients to address their
increasingly complex needs.”
Commenting on the transaction, David Eslick, chairman and CEO of
Marsh & McLennan Agency, said: “I’m delighted to welcome Bob,
Jack and the rest of the Protector Group team to MMA as we continue
to build what is quickly becoming one of the nation’s preeminent
insurance organizations serving the needs of the middle
market.”
Protector Group is the 24th acquisition Marsh & McLennan
Agency has completed since it began to build its national platform
in November 2009. MMA currently generates approximately $410
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
US. MMA operates autonomously from Marsh to offer commercial
property, casualty, personal lines, and employee benefits to
clients across the US.
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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