Posted on 16 Feb 2011
Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., today announced it has acquired the Boston office of Kinloch Consulting Group Inc., the employee benefits division of Kinloch Holdings Inc. Terms of the transaction were not disclosed.
Kinloch Boston, with annual revenues of approximately $2 million, will be folded into Bostonian Group, a Marsh & McLennan Agency company, further expanding Bostonian’s depth and expertise in employee benefits. The transaction marks the first complementary acquisition for Bostonian, which MMA acquired in May 2010.
Kinloch Boston was formed by Kinloch Holdings in 2007 and is comprised of employee benefits professionals dedicated to helping middle market employers effectively address their complex employee benefits challenges. The group advises on a full spectrum of employee benefits products and services to a wide range of employers.
"We are delighted to welcome Kinloch Boston’s talented and experienced employee benefits professionals to Bostonian," said Jim Blue, CEO of Bostonian Group. "This addition enables us to offer greater resources and a broader platform to serve the employee benefit needs of our clients."
"We are delighted that the Kinloch Boston team is joining Bostonian and Marsh & McLennan Agency," said David Eslick, chairman and CEO of Marsh & McLennan Agency. "The addition of these talented individuals will further enhance Marsh & McLennan Agency's ability to offer property, casualty and employee benefit capabilities to its clients."
Kinloch Boston is the 10th acquisition for MMA since November 2009, when it began building out its national platform primarily to serve the property and casualty and employee benefits needs of the middle market. MMA is now the 12th largest agency in the United States with annual revenue of approximately $290 million.
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the U.S. MMA operates independently from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.