Marsh & McLennan Agency Acquires Bostonian Group

Acquisition Gives MMA Strong Operation in New England;
Expands Reach along U.S. Eastern Seaboard

NEW YORK--(BUSINESS WIRE)-- Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced it has acquired The Bostonian Group Insurance Agency, Inc. and Bostonian Solutions, Inc., collectively “Bostonian Group,” one of the largest regional insurance brokerages in New England. The acquisition makes Marsh & McLennan Agency the country’s 12^th largest insurance agency with annual revenue of approximately $185 million. Terms of the transaction are not disclosed.

Established in 1973, Bostonian Group expanded over the years beyond its initial focus on middle market employee benefits to become a full-service insurance brokerage with dedicated capabilities in employee and executive benefits, HR services, and retirement services. The firm has 60 employees and approximately $14 million in annual revenue.

Concurrent with the acquisition, MMA announced that Jim Blue, CEO of Bostonian Group, and Phil Litos, president, Bostonian Group, will join MMA and will retain leadership roles in the firm’s Boston operation. Mr. Blue will report to David L. Eslick, chairman and CEO of Marsh & McLennan Agency. All of Bostonian Group’s employees will remain with the firm and join MMA.

“We’re very excited about having Bostonian Group as part of Marsh & McLennan Agency,” said David L. Eslick, chairman and CEO of Marsh & McLennan Agency. “Under Jim Blue, Bostonian Group has built an outstanding organization with a top-flight reputation and a growth rate that has significantly outpaced the industry.”

“We are delighted to become part of Marsh & McLennan Agency and join its work to become one of our industry’s top national businesses,” said Mr. Blue. “This is a win for our colleagues, who are now part of a larger organization that shares our entrepreneurial spirit, commitment to clients, and focus on delivering excellent service. It’s also a win for our clients, who will now have access to an organization with broader and expanding geographic reach, greater depth and breadth of risk expertise, and a wider array of potential solutions to the emerging and complex risk issues facing them now and in the future.”

The Boston-based insurance broker will continue to operate under the Bostonian Group name for the foreseeable future.

About Bostonian Group:

Bostonian Group is an innovative, relationship-focused consulting firm that develops customized solutions in the areas of benefits, financial and retirement security, and workforce management. Clients leverage our depth of experience and range of services through our consulting practices which include: Employee Benefits, HR Services, Executive Compensation & Benefits, Property & Casualty, Retirement Services and Small Business Solutions.

Headquartered in Boston, Mass., Bostonian Group is the leading insurance advisor for innovative solutions that empower businesses and individuals to succeed. To learn more about Bostonian Group, visit www.BostonianGroup.com.

About Marsh & McLennan Agency LLC:

Marsh & McLennan Agency LLC, a subsidiary of Marsh Inc., the world’s leading insurance broker and risk advisor, was established in 2008 to meet the needs of mid-sized businesses in the U.S. The firm will operate independently from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.

Marsh Inc. has over 23,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with approximately 52,000 employees and annual revenue exceeding $10 billion. MMC also is the parent company of Guy Carpenter, the risk and reinsurance specialist; Kroll, the risk consulting firm; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. MMC’s stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC’s Web Site is www.mmc.com. Marsh’s Web site is www.marsh.com.

Marsh
Al Modugno, 212-345-2448
[email protected]

Source: Marsh & McLennan Agency LLC