Marsh & McLennan Acquires Illinois Independent Agency, Assurance
Marsh subsidiary Marsh & McLennan Agency LLC (MMA) has acquired Schaumburg, Illinois-based Assurance Holdings Inc.
Terms of the acquisition were not disclosed.
Founded in 1961, Assurance is a full-service brokerage providing business insurance, employee benefits, private client insurance, and retirement services to businesses and individuals across the country. It ranked 29th on Insurance Journal’s list of the Top 100 Independent Agencies in 2019.
Assurance will operate as the Midwest regional headquarters for MMA under the leadership of Anthony (Tony) Chimino, CEO of Assurance. Chimino will report to David Eslick, chairman and CEO of MMA. Assurance’s 525 colleagues will join MMA and continue to work out of their Schaumburg and Chicago, Illinois, offices.
Commenting on the acquisition, Marsh President and CEO said John Doyle said in a prepared statement that over a decade, MMA has grown into a “$2 billion-revenue platform serving midsize businesses and individuals across the US. Assurance is another example of our continued ability to attract the highest quality teams to join MMA and enhance our ability to serve clients in this important segment.”
Source: Marsh