Marsh & McLennan Agency Acquires Elsey & Associates
TEXAS SURETY AND INSURANCE SPECIALIST TO JOIN MMA SOUTHWEST REGION
WHITE PLAINS, N.Y. -- November 4, 2013
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh
Inc., today announced the acquisition of Elsey & Associates, a $4.5 million
revenue agency based in Spring, Texas. Terms of the transaction were not
Founded in 1978 as a provider of surety bonds and insurance coverage to the
construction industry, Elsey & Associates has expanded over the years to offer
a wide range of property/casualty and employee benefit products and services
to a number of different businesses and individuals. All of Elsey’s leadership
and employees, including President David Groppell and Chief Operating Officer
Sharen Groppell, will join MMA and operate within the MMA Southwest region.
“Elsey & Associates’ strong community presence in the Houston area, dedication
to service excellence, and top-notch leadership make it an excellent fit for
MMA,” said Anthony Gruppo, CEO for MMA’s Southwest region, based in Houston.
“We are delighted to welcome David, Sharen and the rest of the Elsey &
Associates team to MMA. Their addition enables us to expand our construction
capabilities and offer greater resources and a broader platform to serve the
needs of clients throughout the Southwest.”
David Groppell added: "Joining MMA is an excellent opportunity for Elsey &
Associates to build upon its success over the last 35 years. With the
resources that MMA provides, our clients now have a wider range of products
and services that address their emerging needs."
Commenting on the transaction, David Eslick, chairman and CEO of MMA, said:
“Elsey & Associates is a great fit to MMA and another example of our strategy
to add high caliber, local talent and expertise to enhance the resources
available to our clients.”
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.
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.
Marsh & McLennan Agency
Sally Roberts, 303 952 9453
Lee Ann Farwell, 212 345 1125
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