MMC Buys Massachusetts-Based Firm - Analyst Blog
13 11월 2012 - 7:00PM
Zacks
Last week, Marsh & McLennan Agency LLC (“MMA”) announced
that it has acquired The Protector Group Insurance Agency Inc. MMA
is a subsidiary of Marsh Inc., which is a wholly-owned subsidiary
of Marsh & McLennan Companies Inc. (MMC).
MMA did not disclose the financial and other terms of the deal.
The acquisition is a part of the subsidiary’s ongoing efforts to
develop a strong national platform. Toward this aim, it has already
acquired 23 other companies since 2009.
Based in Worcester, Massachusetts, Protector Group deals in
property & casualty insurance, employee benefits services,
personal insurance and individual financial services. The 84-year
old company is one of the leading independent agencies in New
England. Apart from Worcester, it also has offices in Leominster
and Wellesley in Massachusetts.
Protector Group is substantially smaller in size compared to
MMA. Protector Group’s annual revenues are about $13.6
million, compared with $410 million of annualized revenues
generated by MMA. Nevertheless, Protector Group has an impressive
regional foothold and excellent management team, along with a
balanced mix of property & casualty and employee benefits
business.
Thus, the acquisition is projected to double the extent of MMA’s
market in the New England region. It is also expected to boost
MMA’s property & casualty insurance and employee benefits
capacity. Moreover, it will augment the company’s employee base
with the entire leadership and 84 employees of Protector Group
joining the acquiring company.
Earlier this month, MMA acquired Howalt+McDowell Insurance Inc.,
which is the biggest independent agency in South Dakota. In
September 2012, MMA announced the acquisition of South
Carolina-based employee-benefit oriented services provider
Rosenfeld Einstein as well as Florida-based Eidson Insurance.
Marsh & McLennan currently carries a Zacks #3 rank
(short-term Hold), which is supported by our long-term ‘Neutral’
recommendation. Peers Aon Plc (AON) and
Accenture Plc (ACN) carry a Zacks #3 (Hold) and #2
(Buy) Ranks, respectively.
ACCENTURE PLC (ACN): Free Stock Analysis Report
AON PLC (AON): Free Stock Analysis Report
MARSH &MCLENNAN (MMC): Free Stock Analysis Report
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