Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh, has acquired Trion Group, a privately held employee benefits specialist in the US with $74m in annual revenues.
Established in 1999, Trion, based outside Philadelphia in Conshohocken, Pennsylvania, offers a diversified mix of consulting, brokerage, group disability and life, absence management, voluntary benefits, and benefit administration services to a range of clients across the country.
Trion’s four principals, Ed Garno, Ed Garno III, Dave Oberkircher, and Chris Veno will continue to lead Trion as part of MMA. All of Trion’s employees are expected to join MMA.
Trion is the sixth acquisition MMA has made since embarking on its strategy in November 2009 to build a national platform serving the property and casualty insurance and employee benefits needs of companies across the US.
Over the last 13 months, MMA has acquired Insurance Alliance, The NIA Group, Haake Companies, Thomas Rutherfoord and Bostonian Group.
With the addition of Trion, MMA has grown to become the nation’s 12th insurance agency with annual revenue of approximately $260m.
Trion principal Dave Oberkircher said that by joining Marsh & McLennan Agency, we are ensuring Trion’s continued leadership in the employee benefits industry, while gaining access to a broader array of capabilities and resources to meet client needs and create continued opportunity for all members of Trion to build upon our strong foundation
MMA chairman and CEO David Eslick said that over the last 11 years, senior management has built Trion into a highly regarded, premier employee benefits firm with one of the highest organic growth rates in the industry. Trion is an excellent fit for our growing national business and will serve as a key hub for MMA going forward.