Marsh & McLennan Agency Acquires Vero Insurance

Florida Agency Expands Private Client Expertise

WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced that it has acquired Vero Insurance, Inc., a Vero Beach, Florida-based independent agency specializing in private client insurance services. Terms of the transaction were not disclosed.

Founded in 1960, Vero Insurance specializes in providing high net worth individuals, families, and small businesses along Florida’s Central Atlantic coast with a wide range of insurance products and services. All of Vero Insurance’s 24 employees will join MMA and continue to operate out of the agency’s existing office under the leadership of its President Jonathan Schwiering.

“Vero Insurance is a well-run and respected high-net-worth private client agency whose local talent and expertise will complement and expand MMA’s capabilities in this important segment,” said Dave Eslick, chairman and CEO of Marsh & McLennan Agency. “We welcome Jonathan Schwiering and his team to MMA.”

“Joining MMA is an excellent opportunity for Vero Insurance to build upon its success over the last five decades,” said Mr. Schwiering. “With access to MMA’s additional expertise and resources, our clients will benefit from a wider range of solutions to address their needs, while continuing to enjoy the same signature personal service they’ve come to expect from Vero.”

About Marsh & McLennan Agency

Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. In 2015, it expanded its national footprint into Canada. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.

About Marsh

Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 30,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With annual revenue of US$13 billion and approximately 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a leader in providing risk and reinsurance intermediary services; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Follow Marsh on Twitter, @MarshGlobal; LinkedIn; Facebook; and YouTube.

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Marsh & McLennan Agency LLC

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Source: Marsh & McLennan Agency LLC