Marsh’s middle market agency subsidiary Marsh & McLennan Agency (MMA) has acquired Otis-Magie Insurance Agency, a privately owned independent agency based in northern Minnesota.
Image: Otis-Magie Insurance acquired by Marsh & McLennan. Photo: courtesy of adamr/FreeDigitalPhotos.net.
Terms of the transaction were not disclosed.
Headquartered in Duluth, and with origins dating back to 1886, Otis-Magie provides business insurance, employee benefits, and personal insurance products and services to clients throughout the northern Minnesota region.
Otis-Magie’s 46 employees will continue operating out of their existing locations under the name Otis-Magie, a Marsh & McLennan Agency LLC company. Tom Stender, who has served as Chairman and CEO of Otis-Magie since 2011, will continue to lead the operation.
MMA upper Midwest region CEO Tim Fleming said: “MMA is committed to investing in and supporting the insurance and risk management needs of employers and individuals in northern Minnesota and Wisconsin.
“We’ve known Otis-Magie for years and are thrilled to have these talented people on our team. Combined, we will deliver unparalleled risk expertise and service to clients in the region.”
“We are delighted to join MMA and bring new and additional services to clients and greater growth opportunities to our colleagues,” Mr. Stender said.
Source: Company Press Release