Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh, has purchased Elsey & Associates, for an undisclosed sum.
Set up in 1978, Elsey & Associates, a $4.5m revenue agency based in Spring, Texas, offers surety bonds and insurance coverage to the construction industry, as well as an array of property/casualty and employee benefit products and services.
Under the terms of the transaction, all of Elsey’s leadership and employees, including president David Groppell and chief operating officer Sharen Groppell, will join MMA and operate within the MMA Southwest region.
Marsh & McLennan Agency Southwest region CEO Anthony Gruppo said, "Elsey & Associates’ strong community presence in the Houston area, dedication to service excellence, and top-notch leadership make it an excellent fit for MMA."
"Their addition enables us to expand our construction capabilities and offer greater resources and a broader platform to serve the needs of clients throughout the Southwest."
David Groppell added, "With the resources that MMA provides, our clients now have a wider range of products and services that address their emerging needs."
Marsh & McLennan Agency, which was founded in 2008, operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients throughout the US.