Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh, has acquired the Boston office of Kinloch Consulting Group, the employee benefits division of Kinloch Holdings.
Kinloch Boston, with annual revenues of approximately $2m, will be integrated into Bostonian Group, a Marsh & McLennan Agency company, expanding Bostonian’s expertise in employee benefits.
MMA said this transaction marks the first complementary acquisition for Bostonian, after its acquisition in May 2010.
Kinloch Boston was formed by Kinloch Holdings in 2007 and is comprised of employee benefits professionals dedicated to serving middle market employers. The group advises on a full spectrum of employee benefits products and services to employers.
Bostonian Group CEO Jim Blue said this addition enables the company to offer greater resources and a broader platform to serve the employee benefit needs of the clients.
MMA chairman and CEO David Eslick said the addition of these talented individuals will further enhance MMA’s ability to offer property, casualty and employee benefit capabilities to its clients.
Kinloch Boston is the 10th acquisition for MMA since November 2009, when it started building out its national platform primarily to serve the property and casualty and employee benefits needs of the middle market.
Terms of the transaction were not disclosed.