BRIEF: New Berlin’s Security Insurance bought by Marsh & McLennan [Milwaukee Journal Sentinel]

July 09--Security Insurance Services Inc., of New Berlin, has been acquired by global risk management and consulting firm Marsh & McLennan Companies Inc.

Terms weren't disclosed. Marsh said all 65 Security employees, including Chief Executive Officer and President Scott Naze, will join Marsh and continue to work from their offices in New Berlin and Appleton.

Security generates annual revenue of about $10 million selling property, life and personal insurance and providing employee benefit products and retirement planning. The firm was started in 1983.

Security will operate as a division of RJF, a unit of Marsh & McLennan Agency, a Marsh subsidiary that sells insurance to midsize businesses in the U.S. The acquisition is the Marsh & McLennan Agency's 19th since November 2009.

Marsh, the parent company, is based in New York City. It earned $993 million last year on sales of $11.5 billion.

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