Marsh & McLennan Agency Acquires Insurance Associates
Acquisition Expands MMA’s Presence in the Mid-Atlantic
WHITE PLAINS, NY — Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, announced that it has acquired Insurance Associates, a Rockville, Maryland-based independent insurance agency specializing in the construction industry. Terms of the transaction were not disclosed.
Founded in 1956, Insurance Associates provides commercial property/casualty insurance, surety, and employee health and benefits solutions to clients throughout the Mid-Atlantic. It operates out of four offices in Rockville, Maryland; Laurel, Maryland; Towson, Maryland; and Fairfax, Virginia, and has 59 employees, all of whom will join MMA and continue to work out of their current locations.
“Insurance Associates is an excellent addition to MMA as it expands our presence into the greater Washington DC region and further enhances our construction capabilities,” said John Stanchina, president and CEO of MMA’s Mid-Atlantic Region.
Stephen Spencer, president of Insurance Associates, added: “Joining MMA is an excellent opportunity that allows us to keep and grow our local team while giving us the capabilities of a national platform to build upon our success.”