The leading risk adviser and insurance broking company in the world, Marsh, recently made an announcement confirming that Marsh & McLennan Agency LLC (MMA), the company’s US middle market agency subsidiary, has bought Assurance Holdings, Inc., which based in Illinois and happens to be among the top independent agencies located in the U.S.
Apparently, the company will be running as the Midwest regional headquarter for MMA, led by the CEO of Assurance, Anthony Chimino. Mr. Chimino is expected to report to David Eslick who is the CEO and Chairman of MMA. About 525 colleagues of Assurance will be joining MMA and will be continuing to work out of the Chicago and Schaumburg, Illinois, Offices.
The terms of acquisition had not been disclosed by the companies. For the record, Assurance was founded in 1961 and is a full-service brokerage that offers employee benefits, retirement services, business insurance and private client insurance to individuals in the country.
Marsh’s CEO and President, John Doyle commented that MMA has grown vastly over a span of 10 years into a $2 billion-revenue platform that serves midsize individuals and businesses in the U.S. Assurance stands as another instance of the company’s continued ability to entice the best quality teams to join MMA and improve its ability to serve clients across this important segment.
Mr. Eslick further elaborated that Assurance has been a highly respected company that is recognized for its commitment towards offering determinate value to all its clients. The acquisition shows a major improvement in the company’s capabilities across the region.
Mr. Chimino stated that the company will have the opportunity to offer innovative resources as well as solutions for the clients by joining MMA. MMA also shares the company’s goals for being able to build & maintain an award-winning workplace culture.