Marsh & McLennan Agency (MMA), the middle market agency subsidiary of Marsh, has agreed to acquire insurance brokerage J. Smith Lanier & Co. (JSL).
Terms of the transaction, which is expected to close in the first quarter of 2017 pending customary approvals, were not disclosed.
Upon completion of the transaction, JSL will operate as MMA’s Southeast regional hub under the leadership of JSL’s Chief Executive, D. Gaines Lanier, and Chief Operating Officer, Gary Ivey. Mr. Lanier will report to David Eslick, Chairman and CEO of Marsh & McLennan Agency. All of JSL’s employees will join MMA.
Founded in 1868, JSL is a leading provider of insurance, risk management, and employee benefits solutions to businesses and individuals throughout the US. Based in West Point, Georgia, JSL has annual revenue of approximately $130m and 600 employees in 21 offices across Georgia, Alabama, Kentucky, Tennessee, and Florida.
Marsh CEO Peter Zaffino said: “The acquisition of J. Smith Lanier, one of the country’s preeminent middle market insurance agencies, is a terrific addition to MMA’s capabilities and geographic footprint.”
Eslick said: “J. Smith Lanier is among the oldest and most highly-regarded agencies in the US. Its focus on clients, distinguished leaders, and talented team make JSL a great fit with MMA. I look forward to working with Gaines Lanier, Gary Ivey, and the rest of the JSL team to further enhance MMA’s presence in the Southeast.”
Lanier said: “J. Smith Lanier has been delivering the expertise, advocacy, and results our clients have depended on to help manage risk in their lives and businesses for nearly 150 years. As part of Marsh & McLennan Agency, we look forward to delivering additional solutions for our clients and providing new opportunities for our colleagues.”