Posted on 03 May 2010
Today Marsh & McLennan Agency L.L.C. announced that it has acquired the regional insurance brokerage Bostonian Group.
Bostonian Group includes Bostonian Solutions Inc. and Bostonian Group Insurance Agency Inc., which together have 60 employees and about $14 million in annual revenue. The firm focuses primarily on employee benefits and has some capabilities in executive benefits and retirement services, said David L. Eslick, chairman and CEO of Marsh & McLennan Agency.
The acquisition "is a very nice start for us in the New England marketplace," Mr. Eslick said. “We’ll look to find some strong property/casualty partners to join in with them.”
Bostonian Group CEO Jim Blue and President Phil Litos will join Marsh & McLennan Agency, reporting to Mr. Eslick.
All Bostonian Group employees will remain with the firm, which will continue to operate under the Bostonian moniker, the firms said in a statement.
Terms of the acquisition were not disclosed.