Metairie-based Eustis Insurance & Benefits acquired by subsidiary of insurance broker Marsh

Oct. 03--More than 70 years after Laurance Eustis founded the insurance agency that bears his name, Metairie-based Eustis Insurance & Benefits is being acquired by Marsh & McLennan Agency LLC in New York, a subsidiary of insurance broker Marsh Inc.

The price was not disclosed. The deal marks Marsh & McLennan Agency's first acquisition in Louisiana.

With 109 employees, Eustis was the largest independently-owned insurance agency in Louisiana, offering property and casualty insurance as well as employee health and benefits solutions. The firm focuses on midsize businesses, particularly in the hospitality, construction, wholesale, education and distribution industries.

As part of the arrangement, Eustis will maintain its existing office locations in Metairie, Mandeville and Baton Rouge, and operate as Eustis Insurance & Benefits, a Marsh & McLennan Agency LLC company.

Eustis President and CEO Tommy McMahon said the move marked "the next step in Eustis' evolution."

"With access to additional resources and capabilities, we will be able to better serve our clients in today's ever complex environment and provide more growth opportunities for our colleagues while continuing to serve the communities in which we work and live," McMahon said.

Eustis was founded in 1946.

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