Posted on 17 Nov 2011
Continuing its strategy to build a national platform, Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., announced today the acquisition of Seitlin Insurance, one of the largest insurance brokerage firms in South Florida. Terms of the transaction were not disclosed.
Founded in 1945, Seitlin has annual revenue of approximately $24 million and 119 employees in three Florida offices: Miami, Fort Lauderdale, and West Palm Beach. Seitlin provides property and casualty insurance and employee benefits to middle market companies in a wide range of industries. All of Seitlin’s employees and leadership team, including CEO Tom Cornish, will join MMA.
Seitlin will serve as MMA’s Florida hub and is the latest in a number of acquisitions MMA has made since embarking on its strategy of building a national platform to serve the property and casualty insurance and employee benefit needs of the middle market.
“Seitlin’s excellent reputation, strong management team, and blend of property/casualty and employee benefit business make it an ideal partner for MMA,” said Dave Eslick, chairman and CEO of MMA. “I welcome the entire Seitlin team to MMA and look forward to further building out MMA’s presence in Florida.”
“Joining MMA represents a great growth opportunity for Seitlin,” Mr. Cornish said. “As part of MMA, we will be able to continue our strong legacy of innovation and superior client service while also having access to the support and resources of the world’s leading insurance broker and risk advisor.
"As South Florida is the gateway to Latin America, we are especially excited about being able to offer our clients the capability of Marsh throughout the Americas," Mr. Cornish said.