Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Insurance Associates, a Rockville, Md.-based independent insurance agency specializing in the construction industry. Terms of the transaction were not disclosed.
Founded in 1956, Insurance Associates provides commercial property and casualty insurance, surety and employee health and benefits products to clients throughout the Mid-Atlantic. It operates out of four offices in Rockville, Md.; Laurel, Md.; Towson, Md.; and Fairfax, Va. All 59 of its employees will join MMA and continue to work out of their current locations.
The addition of Insurance Associates will serve to expand MMA’s presence into the greater Washington D.C. region and enhance its construction capabilities, according to John Stanchina, president and CEO of MMA’s Mid-Atlantic Region, in a company press release.
Source: Marsh & McLennan Agency
Topics Mergers & Acquisitions
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