Marsh’s middle market agency subsidiary Marsh & McLennan Agency (MMA) has acquired Eustis Insurance & Benefits, a Louisiana-based insurance agency, for an undisclosed price.
The acquisition of Eustis Insurance expands MMA’s footprint into the US state of Louisiana.
Established in 1946, Eustis is headquartered in Metairie. Through its 109 employees, the company serves midsize businesses across Louisiana with its property/casualty, personal lines, and employee health and benefits solutions and expertise.
The independent insurance company particularly has expertise in the hospitality, construction, wholesale, education, and distribution sectors.
The insurance agency will continue to operate from its existing locations in Metairie, Mandeville, and Baton Rouge. However, it will be renamed as Eustis Insurance & Benefits, a Marsh & McLennan Agency LLC company.
Eustis president and CEO Tommy McMahon said: “Joining MMA is the next step in Eustis’ evolution.
“With access to additional resources and capabilities, we will be able to better serve our clients in today’s ever complex environment and provide more growth opportunities for our colleagues while continuing to serve the communities in which we work and live.”
MMA is the middle market agency subsidiary of global insurance broking and risk management solutions provider Marsh.
The Marsh subsidiary caters to midsize businesses and individuals across North America by meeting their risk prevention and insurance needs.
The middle market agency provides its clients with commercial property, casualty, personal lines, and employee benefits programs. MMA is claimed to be the ninth largest insurance broker in the US with annualized revenues of about $1.2bn.
MMA Southwest region CEO Bill Henry said: “Eustis’ vision for growth, dynamic culture, and commitment to client service make it a terrific fit for MMA’s growing national footprint,” said Bill Henry, CEO of MMA’s Southwest region.
“I welcome the Eustis team to MMA and look forward to working with them to expand our offerings in the thriving Louisiana market.”
Last month, Marsh & McLennan Companies (MMC), another subsidiary of Marsh, had signed an all-cash deal to acquire UK-based insurance and reinsurance broker Jardine Lloyd Thompson (JLT) Group for $5.6bn.