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.
Wanted: War-Zone Divers to Scrape Barnacles From Ships in Persian Gulf 
Miami Tech Investor Revives $3 Billion Real Estate Development 
Zurich Sees Data Center Boom Spurring Insurance Securitization 
Older, Wealthier Renters Drive Changes in Insurance Needs 
