Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced the acquisition of Liscomb Hood Mason Co., a $2.2 million revenue agency based in Duluth, Minnesota. Terms of the transaction were not disclosed.
With roots dating back to 1927, Liscomb Hood Mason offers a wide range of property/casualty and employee benefit products and services to businesses and individuals in Minnesota. All of the firm's leadership and employees, including its president Larry Sumbs, will join MMA and operate within MMA's upper Midwest hub.
"Liscomb Hood Mason's strong community presence in Duluth, dedication to service excellence, and top-notch leadership make it an excellent fit for MMA," said Bill Jeatran, Minneapolis-based CEO of MMA's upper Midwest region. "With Liscomb Hood Mason, we are able to offer greater resources and a broader platform to serve the needs of our clients in the upper Midwest."
"We are pleased to be joining MMA and view this move as an opportunity to build on the success Liscomb Hood Mason has had over the last 85 years," Mr Sumbs said. "As part of MMA, our clients will now have access to a wider range of products and services to address their emerging and evolving risk and benefit issues."
Commenting on the transaction, David Eslick, chairman and CEO of Marsh & McLennan Agency, said: "Liscomb Hood Mason is another example of how we are adding high caliber, local talent and expertise to enhance the resources available to our MMA clients. I welcome Larry and the rest of the Liscomb Hood Mason team to MMA."