Business Moves – East
MMA, Protector Group
Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., acquired Worcester, Mass.-based The Protector Group Insurance Agency, one of the largest independent agencies in New England. Terms of the transaction were not disclosed.
Founded in 1928, Protector Group offers a wide range of property/casualty insurance, employee benefits services, personal insurance, and individual financial services to midsize companies and individuals in New England. The agency generates $13.6 million in annual revenues and has 84 employees operating out of three offices in Massachusetts: Worcester, Leominster, and Wellesley.
Protector Group will operate out of Marsh & McLennan Agency’s New England hub, further expanding the region’s employee benefit capabilities and adding new property/casualty insurance resources.
All of the agency’s leadership and employees — including founder and CEO Bob Vaudreuil and Executive Vice President Jack Cahill — will join Marsh & McLennan Agency and continue to operate out of Protector Group’s existing offices.
Protector Group is the 24th acquisition Marsh & McLennan Agency has completed since it began to build its national platform in 2009. Marsh & McLennan Agency currently generates $410 million in annualized revenue. Marsh & McLennan Agency has its main office in White Plains, N.Y. Its parent Marsh & McLennan Companies is headquartered in New York City.
Confie Seguros, ABRY Partners
Confie Seguros, a personal lines insurance brokerage focused on the U.S. Hispanic market, was acquired by Boston-based private equity firm ABRY Partners.
ABRY Partners invested in and acquired a majority of the equity for Confie Seguros from San Francisco-based Genstar Capital.
Buena Park, Calif.-based Confie Seguros has since its inception in 2008 built a massive portfolio of over 300 regional auto insurance brokerages. It has market positions in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey, and Nevada. It has plans to expand in states including, Illinois, Georgia and the Carolinas.
Risk Strategies Co., D&D Insurance
Risk Strategies Company (RSC), a national brokerage based in Boston, acquired Burlington, Mass.-based D&D Insurance Agency, an independent personal and commercial lines agency.
The transaction is RSC’s fourth acquisition in the past two years and its second in the Boston area in the past year. In December 2011, RSC acquired Needham, Mass.-based Global Insurance Network, a real estate/condo market insurance specialist.
As part of the deal, D&D’s founder and principal Mark Vallucci joins RSC as vice president and he will help to further expand RSC’s personal and commercial lines business. The entire D&D team will become RSC employees and will service clients from RSC’s Randolph and Burlington offices.
RSC is a national brokerage firm distributing property/casualty insurance and employee benefits insurance products to both privately held and publicly traded commercial clients and individuals. D&D Insurance Agency is a Burlington, Mass.-based independent insurance agency providing auto, home and business insurance.