Insurance broking and risk management firm Marsh has acquired Sumitomo Life Insurance Agency America (SLIA), the employee benefits brokerage and consulting subsidiary of Japan-based Sumitomo Life Insurance.
Terms of the deal have not been disclosed.
Marsh international division head David Batchelor said: "Sumitomo Life Insurance Agency America is a high-quality employee benefits firm with a solid reputation for client service excellence.
"Combined, Marsh ACS is better positioned to offer clients a full range of health, benefit, and property/casualty solutions."
SLIA offers different employee benefit and other services to US-based subsidiaries of Japanese companies. It has offices in New York, Los Angeles, Atlanta, Chicago, and Crescent Springs of Kentucky.
SLIA employees will be included in the Marsh’s Asia Client Services (ACS) team and report to the US’ ACS president and CEO John McDonnell.
Marsh is a wholly owned subsidiary of Marsh & McLennan Companies, which offers advice and solutions for its clients in the areas of risk, strategy and people.