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.
Hartford: 10-Year Analysis Shows Shifts in Common, Expensive Small-Business Claims 
Trump to Issue Order Creating National AI Rule 
Zillow Deleting Home Climate Risk Scores Reveals Limits of Flood, Fire Data 
One of Highest Property Claims Severity Recorded in Q3 on Low Volume, Says Verisk 
