Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Otis-Magie Insurance Agency Inc., a privately owned independent agency headquartered in Duluth, Minnesota.
Terms of the transaction were not disclosed.
With origins dating back to 1886, Otis-Magie provides business insurance, employee benefits, and personal insurance products and services to clients throughout the northern Minnesota region.
Otis-Magie’s 46 employees will continue operating out of their existing locations under the name Otis-Magie, a Marsh & McLennan Agency LLC company. Tom Stender, who has served as chairman and CEO of Otis-Magie since 2011, will continue to lead the operation.
Source: Marsh & McLennan Agency
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
Experian Launches Insurance Marketplace App on ChatGPT 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
