Insurance brokerage and risk management firm Marsh & McLennan Agency (MMA) has acquired Brower Insurance Agency, an independent firm in Ohio, for an undisclosed sum.
Following the transaction, the acquired enterprise will act as MMA’s Midwest hub and focus to boost its presence in the region through further spoke and fold-in acquisitions.
Under terms of the agreement, all of Brower management team and staff, including managing principal Chris McAtee, will join MMA.
MMA chairman and CEO David Eslick said, "Brower’s strong regional presence, top-notch leadership, sales-oriented culture, and diversified mix of business were very attractive as we looked for a quality partner to join MMA."
Established in 1935 and headquartered in Ohio, Brower has annual revenues of nearly $24m and employs 164 staff in four Ohio offices, including Dayton, Cincinnati, Columbus, and Springfield.
The company offers property/casualty insurance, employee benefits services, and consulting services to midsize businesses and individuals.
Founded in Marsh & McLennan Agency, trades as a subsidiary of Marsh Inc., and delivers commercial property, casualty, personal lines, and employee benefits to clients across the US.