Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Celedinas Insurance Group, one of Florida’s largest independent agencies. Terms of the transaction were not disclosed.
Established in 1959 and headquartered in Palm Beach Gardens, Fla., Celedinas generates approximately $22 million in annual revenue and specializes in providing property/casualty insurance, marine insurance, and employee benefits services to businesses and individuals, with particular expertise in working with high-net worth individuals and families.
All of Celedinas’ 120 employees and leadership, including President and CEO Ray Celedinas, are joining MMA and will continue to operate out of their existing five offices throughout Florida under the name Celedinas Insurance Group, a Marsh & McLennan Agency company, and under Ray Celedinas’ leadership. In connection with this acquisition, Celedinas also has been named National Private Client Practice leader for MMA.
According to Marsh President and CEO Peter Zaffino, MMA’s addition of Celedinas will enhance Marsh’s capabilities in high-net worth personal lines and accelerate its revenue growth in this segment.
MMA is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. In 2015, it expanded its national footprint into Canada. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
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