Marsh McLennan Agency Acquires Iowa’s Accel Holdings

Marsh McLennan Agency announced that it has reached an agreement to acquire Accel Holdings, Inc., a leading diversified independent insurance and advisory firm headquartered in Waverly, Iowa. Terms of the acquisition, which is expected to close in the third quarter, were not disclosed.

The Accel Group was founded in 1936, further establishing its legacy through a strategic merger with Millhiser Smith Agency in 2018, which itself was founded in 1928. Today, the firm provides commercial and personal insurance, employee benefits, and agribusiness solutions, as well as wealth management and retirement advisory services. The Accel Group operates seven offices across Iowa, Illinois, Missouri, and Kansas, and has over 130 employees, all of whom are expected to join MMA from their current locations.