Marsh & McLennan, an insurance brokerage and risk management firm, has purchased Eidson Insurance, a $3.4m revenue property/casualty and employee benefits agency, expanding its presence into Central Florida.
Pursuant to the terms of the acquisition, all of Eidson’s employees and leadership team, including president Laura Eidson Cosgrove, will join MMA and will continue to operate from the agency’s existing Orlando office.
Commenting on the transaction, Marsh & McLennan Agency chairman and CEO David Eslick, said, "Spoke acquisitions such as this are an essential component of our strategy to become one of the nation’s preeminent insurance agencies serving the needs of the middle market."
Eidson will join MMA’s Florida center that was developed last year through the acquisition of Seitlin Insurance and is cuurently operating under the agency.
Marsh & McLennan Agency Florida Region president and CEO Tom Cornish said, "With the addition of Eidson, MMA will now have offices in Miami, Fort Lauderdale, West Palm Beach, Jacksonville, and Orlando with 190 associates providing risk, insurance, and benefit solutions to middle market companies and individuals in Florida."
"Together, MMA and Eidson will be able to offer greater resources to our clients to address their increasingly complex needs."
Floated in 1943, Eidson provides a range of property/casualty and employee benefit services to individuals and businesses in central Florida, with a particular focus on the health care industry.
Marsh & McLennan Companies is a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital.