Marsh & McLennan Agency Acquires Otis-Magie Insurance Agency, Inc.
MMA Expands Presence in Northern Minnesota
WHITE PLAINS, NY — Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, announced that it has acquired Otis-Magie Insurance Agency Inc., one of the largest privately owned independent agencies in northern Minnesota. Terms of the transaction were not disclosed.
Headquartered in Duluth, and with origins dating back to 1886, Otis-Magie provides business insurance, employee benefits, and personal insurance products and services to clients throughout the northern Minnesota region. Otis-Magie’s 46 employees will continue operating out of their existing locations under the name Otis-Magie, a Marsh & McLennan Agency LLC company. Tom Stender, who has served as Chairman and CEO of Otis-Magie since 2011, will continue to lead the operation.
“MMA is committed to investing in and supporting the insurance and risk management needs of employers and individuals in northern Minnesota and Wisconsin,” said Tim Fleming, CEO of MMA’s upper Midwest region. “We’ve known Otis-Magie for years and are thrilled to have these talented people on our team. Combined, we will deliver unparalleled risk expertise and service to clients in the region.”
“We are delighted to join MMA and bring new and additional services to clients and greater growth opportunities to our colleagues,” Mr. Stender said.