Marsh Inc., the risk and insurance services arm of Marsh & McLennan, is to sell Crump Group to an affiliate of J.C. Flowers & Co., a New York-based private equity firm.
Crump Group is Marsh’s US-based wholesale broking operation. It is a multi-line wholesale insurance brokerage group with facilities that span the excess, surplus and specialty insurance marketplace. The company is headquartered in Dallas, Texas and has representative offices in nine other US states.
The agreement to sell comes four months after New York-based Marsh & McLennan decided to offload Crump as part of a move to reorganize its wholesale brokerage business. Financial terms of the deal were not disclosed.
Marsh & McLennan Companies is a global professional services firm with approximately 60,000 employees and annual revenues exceeding $12 billion.