Property/casualty and employee benefits agency, MJ Insurance, has acquired Indianapolis-based Mead & Company. Terms of the deal between the two private firms were not disclosed.
Mead & Company is a multi-generational family business operated by the Mead family and founded in the 1860s. The firm began as a managing general agency known as Zener and Stone but subsequently became known as Stone, Stafford and Stone. In 1981, the name was changed to Mead & Company owned by William J. Mead.
MJ Insurance was founded in 1964 by James B. Ritter and Michael M. Bill. Today, Michael M. Bill still serves as chairman of the company’s board of directors while his son, Michael H. Bill, serves as CEO.
Similar to MJ Insurance, Mead & Company Inc. offers property/casualty and personal lines services for a host of clients. According to terms of the deal, Mead & Company employees will be transferred to MJ Insurance’s Indianapolis headquarters. There will be no layoffs.
MJ Insurance has offices in Indiana and Arizona, and has clients in 16 countries and in every U.S. state.
Source: MJ Insurance