Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., acquired Independent Insurance Group Benefits Inc., the employee benefits division of Dallas, Texas-based Independent Insurance Group.
Terms of the deal were not disclosed.
Independent Insurance Group Benefits will be folded into Prescott Pailet Benefits, a Marsh & McLennan company. The transaction marks the first complementary acquisition for Prescott Pailet, which Marsh & McLennan Agency acquired in 2011.
Independent Insurance Group Benefits, which reports annual revenues of roughly $1.4 million, offers employee benefits products and services to midsize employers in the Dallas metropolitan area. The group’s leadership and employees will join Prescott Pailet.
Marsh & McLennan Agency operates autonomously from Marsh to offer commercial property, casualty, personal lines and employee benefits to clients across the US.
Marsh Inc. is a wholly owned subsidiary of Marsh & McLennan Cos. (NYSE: MMC), which reports annual revenue of over $11 billion.
Topics Mergers & Acquisitions Texas
Was this article valuable?
Here are more articles you may enjoy.
North Carolina Adjuster and Son Charged With Embezzlement in Roof Jobs 
Chubb to Acquire MGA Healthy Paws From Aon 
FBI Says Chinese Hackers Preparing to Attack US Infrastructure 
Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination 
