Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh, has acquired Security Insurance Services for an undisclosed amount.
According to the underwriter, acquisition of Security Insurance Services will enable it to expand its presence in Wisconsin, US and upon completion of the merger, Security Insurance Services will trade as a division of RJF, a Marsh & McLennan Agency company.
Under the terms of the merger, all of Security Insurances’ 65 employees, including president and CEO Scott Naze, will join MMA’s upper Midwest hub and continue to work from their existing offices in New Berlin and Appleton, Wisconsin.
Marsh & McLennan Agency chairman and CEO David Eslick said Security Insurance is a high-quality firm with a well-earned and longstanding reputation for professionalism and service excellence.
"As part of MMA, our clients will enjoy the same superior service they’ve come to expect from us while gaining new and enhanced capabilities and resources to meet their evolving risk management and employee benefit needs," Naze commented.
With an annual revenue of $10m, Security Insurance offers a variety of property/casualty and employee benefits products and services to businesses and individuals throughout the Midwest.
Marsh, a wholly owned subsidiary of Marsh & McLennan Companies offers clients advice and solutions in the areas of risk, strategy and human capital.