Marsh has acquired The Bostonian Group in a deal that gives the broker’s upstart, retail agency division a sizable presence in New England.
Terms of the transaction were not disclosed.
The Bostonian Group — which has 60 employees and approximately $14 million in annual revenue — is a full-service insurance brokerage with dedicated capabilities in employee and executive benefits, HR services, and retirement services.
Bostonian Group CEO Jim Blue and President Phil Litos will retain leadership roles in the firm’s Boston operation. All of Bostonian Group’s employees will remain with the firm and join MMA.
Marsh says the acquisition makes it the country’s 12th largest insurance agency with annual revenue of approximately $185 million.
The Boston-based insurance broker will continue to operate under the Bostonian Group name for the foreseeable future, Marsh said.
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