US Marsh & McLennan Agency buys insurance brokers Bostonian Group, to expand

Marsh & McLennan Agency, or MMA, a unit of US insurance broker Marsh, said on Monday it had bought insurance brokerages The Bostonian Group Insurance Agency and Bostonian Solutions, together the Bostonian Group, for an undisclosed sum, to grow.

The deal converts Marsh & McLennan Agency in the 12th largest insurance agencies in the US, with annual revenues of some USD185m (EUR140.3m).

The Bostonian group employs 60 and generates annual revenues of USD14m. Jim Blue, chief executive of Bostonian Group and Phil Litos, president, will join the MMA management team in Boston.

Bostonian Group will retain its name for the time being. It offers insurance advice in the area of benefits, financial and retirement security and workforce management.

Country: USA;

Sector: Business and Consumer Services; Insurance

Target: Bostonian Solutions Inc; The Bostonian Group Insurance Agency Inc

Buyer: Marsh & McLennan Agency LLC

Type: Corporate acquisition

Status: Closed

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