Last week, Marsh & McLennan Agency LLC ("MMA") announced
that it has acquired The Protector Group Insurance Agency Inc.
MMA is a subsidiary of Marsh Inc., which is a wholly-owned
Marsh & McLennan Companies Inc.
MMA did not disclose the financial and other terms of the
deal. The acquisition is a part of the subsidiary's ongoing
efforts to develop a strong national platform. Toward this aim,
it has already acquired 23 other companies since 2009.
Based in Worcester, Massachusetts, Protector Group deals in
property & casualty insurance, employee benefits services,
personal insurance and individual financial services. The 84-year
old company is one of the leading independent agencies in New
England. Apart from Worcester, it also has offices in Leominster
and Wellesley in Massachusetts.
Protector Group is substantially smaller in size compared to
MMA. Protector Group's annual revenues are about $13.6
million, compared with $410 million of annualized revenues
generated by MMA. Nevertheless, Protector Group has an impressive
regional foothold and excellent management team, along with a
balanced mix of property & casualty and employee benefits
Thus, the acquisition is projected to double the extent of
MMA's market in the New England region. It is also expected to
boost MMA's property & casualty insurance and employee
benefits capacity. Moreover, it will augment the company's
employee base with the entire leadership and 84 employees of
Protector Group joining the acquiring company.
Earlier this month, MMA acquired Howalt+McDowell Insurance
Inc., which is the biggest independent agency in South Dakota. In
September 2012, MMA announced the acquisition of South
Carolina-based employee-benefit oriented services provider
Rosenfeld Einstein as well as Florida-based Eidson Insurance.
Marsh & McLennan currently carries a Zacks #3 rank
(short-term Hold), which is supported by our long-term 'Neutral'
) carry a Zacks #3 (Hold) and #2 (Buy) Ranks, respectively.
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