Marsh & McLennan Agency Acquires Employee Benefits Division of Independent Insurance Group

  Marsh & McLennan Agency Acquires Employee Benefits Division of Independent
  Insurance Group

Business Wire

WHITE PLAINS, N.Y. -- December 20, 2012

Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh
Inc., today announced it has acquired Independent Insurance Group Benefits,
Inc., the employee benefits division of Dallas-based Independent Insurance
Group. Terms of the deal were not disclosed.

Independent Insurance Group Benefits, with annual revenue of approximately
$1.4 million, will be folded into Prescott Pailet Benefits, a Marsh & McLennan
Agency company, further expanding the firm’s depth and expertise in employee
benefits. The transaction marks the first complementary acquisition for
Prescott Pailet, which MMA acquired in July 2011.

Founded in 1994, Independent Insurance Group Benefits offers a full spectrum
of employee benefits products and services to midsize employers in the Dallas
metropolitan area. All of the group’s leadership and employees, including its
president Joe Wiseman, will join Prescott Pailet.

“We are delighted to welcome Independent Insurance Group Benefits’ talented
and experienced employee benefits professionals to Prescott Pailet Benefits,”
said Stuart Prescott, principal. “The addition enables us to offer greater
resources and a broader platform to serve the employee benefits needs of our
clients. At the same time, Independent Insurance Group Benefits’ clients will
now have access to a wider array of capabilities and resources from MMA.”

Commenting on the transaction, David Eslick, chairman and CEO of MMA said:
“Fold-in acquisitions like this are an essential component of our strategy to
become one of our industry’s preeminent national businesses. We are thrilled
that Joe Wiseman and the rest of the Independent Insurance Group Benefits team
are joining MMA.”

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 over 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 talent,
health, retirement, and investment consulting; and Oliver Wyman, a global
leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.

Contact:

Marsh & McLennan Agency LLC
Sally Roberts, 303-952-9453
sally.roberts@marsh.com
or
Anand Poola, 212-345-4292
anand.poola@marsh.com
 
Press spacebar to pause and continue. Press esc to stop.