Marsh & McLennan Agency (MMA), a full-service insurance, retirement, and risk management firm, has acquired North Carolina-based employee benefit consulting firm, The Benefit Planning Group (BPG).
Terms of the transaction have not been disclosed.
Established in 1991, BPG offers employee benefits and insurance services to the health care community, including medical schools, physicians, and medical practices.
The firm’s employees, including founder Mike Waters, will join MMA’s mid-Atlantic region and continue to operate from BPG’s existing Durham, North Carolina office.
MMA mid-Atlantic region vice chairman Thomas Brown said: "We are excited to have Mike and his team join the mid-Atlantic region of MMA. BPG brings a diverse skill set in a segment of the market that has the potential for tremendous growth."
Marsh has also acquired Belgium-based credit insurance policies distributor Trade Insure NV, for an undisclosed sum.
Beginning January 2015, the combined entity will trade under the name of Marsh Trade Insure, and comprise members of Marsh’s existing trade credit team in Belgium as well as all colleagues from Trade Insure.
Marsh Continental Europe CEO Flavio Piccolomini said: "Trade Insure has developed a compelling credit insurance offering for both SME and multinational clients across Belgium. When combined with Marsh’s capabilities, we will be able to offer them world-class services and solutions."
Image: MMA has acquired North Carolina-based The Benefit Planning Group. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.