Marsh & McLennan Agency Acquires Barney & Barney
04 2월 2014 - 5:18AM
Business Wire
Acquisition Expands MMA’s Reach into the
West
In its largest acquisition to date, Marsh & McLennan Agency
LLC (MMA), a subsidiary of insurance broker Marsh LLC., today
announced it has acquired San Diego, California-based Barney &
Barney, LLC, the country’s 34th largest brokerage firm. Terms of
the transaction were not disclosed.
Founded in 1909, Barney & Barney is a leading provider of
insurance, risk management, and employee benefits solutions to
businesses and individuals throughout the US and abroad. The firm
has annual revenue of $100 million and 500 employees, all of whom
will join MMA. Barney & Barney will serve as MMA’s Western
regional hub under the leadership of Barney & Barney CEO Paul
Hering.
“Barney & Barney’s top-notch leadership, client-centric
culture, excellent reputation, and phenomenal track record for
growth makes it the ideal partner to lead this very important
geography for MMA,” said David Eslick, chairman and CEO of Marsh
& McLennan Agency. “I welcome Barney & Barney to MMA and
look forward to working with Paul Hering to further build out MMA’s
presence in the West.”
Mr. Hering added: “We are excited to begin a new chapter with
the MMA team. This transition is an excellent opportunity to expand
our reach, ensuring new opportunities for our associates and more
resources for our clients. Barney & Barney’s commitment to
clients, colleagues, and community will remain the foundation for
all we do as we continue to provide our clients the world-class
support and expertise they’ve come to expect.”
Peter Zaffino, president and CEO of Marsh, said: “Since the
launch of Marsh & McLennan Agency in 2008, we have steadily
built the premier national platform to serve the insurance needs of
midsize US businesses. The acquisition of Barney & Barney
represents a key milestone, further enhancing our geographic
footprint, our capabilities, and our position as one of the
nation’s largest agencies.”
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 is a global leader in insurance broking and risk
management. We help clients succeed by defining, designing, and
delivering innovative industry-specific solutions that help them
effectively manage risk. We have approximately 27,000 colleagues
working together to serve clients in more than 100 countries. Marsh
is a wholly owned subsidiary of Marsh & McLennan Companies
(NYSE: MMC), a global professional services firm offering clients
advice and solutions in the areas of risk, strategy, and human
capital. With more than 54,000 employees worldwide and
approximately $12 billion in annual revenue, 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 talent, health, retirement, and
investment consulting; and Oliver Wyman, a global leader in
management consulting. Follow Marsh on Twitter @Marsh_Inc.
MarshDoug Dundas, 212-345-0977Doug.Dundas@marsh.comorBarney
& BarneyErin Swain,
858-875-5406Erin.Swain@barneyandbarney.com
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