Marsh McLennan Agency acquires AC Risk Management

Rhea-AI Summary

Marsh McLennan Agency, a subsidiary of Marsh, acquires AC Risk Management, an independent commercial lines brokerage in Melville, New York, specializing in property/casualty insurance for the construction industry. The terms of the acquisition were not disclosed. ACRM employees, including CEO Matt Avellino, will continue working in their Melville office. The move aims to enhance risk mitigation services for businesses in the Long Island community.

Positive

• The acquisition of AC Risk Management will expand Marsh McLennan Agency's commercial line expertise and strengthen its presence in the construction industry.

• The addition of the ACRM team will provide Marsh McLennan Agency with enhanced tools and technologies to offer advanced solutions for client exposures.

• ACRM's commitment to helping clients identify risks and prevent claims aligns with Marsh McLennan Agency's goal to address evolving risk mitigation needs effectively.

Negative

• The specific terms of the acquisition, such as financial details and potential impact on Marsh McLennan Agency's financials, were not disclosed, leaving investors with information.

• There could be challenges in integrating ACRM's operations and culture with Marsh McLennan Agency's existing framework, potentially leading to operational disruptions or conflicts.

WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Marsh McLennan Agency, a subsidiary of Marsh, today announced the acquisition of AC Risk Management (ACRM), an independent commercial lines brokerage based in Melville, New York. Terms of the acquisition were not disclosed.

Founded in 2012, ACRM primarily offers property/casualty insurance to businesses in the region, with a particular focus on the construction industry. All ACRM employees, including CEO Matt Avellino, will continue working out of their existing Melville office.

“With their commercial line expertise and construction industry specialization, the ACRM team will be a great addition to Marsh McLennan Agency,” said Jerry Alderman, CEO of Marsh McLennan Agency’s Northeast region. “We are looking forward to this opportunity to work with businesses in the Long Island community and help them address their constantly evolving risk mitigation needs.”

Mr. Avellino added: “We have always been committed to helping clients identify their risks and prevent claims before they happen. As part of Marsh McLennan Agency, our team will gain access to advanced tools and technologies, enabling them to provide enhanced solutions for client exposures, in addition to high-quality professional growth resources.”

About Marsh McLennan Agency

Marsh McLennan Agency provides business insurance, employee health & benefits, retirement & wealth, and private client insurance solutions to organizations and individuals seeking limitless possibilities. With 10,000 colleagues and 180 offices across North America, Marsh McLennan Agency combines the personalized service model of a local consultant with the global resources of the world’s leading professional services firm, Marsh McLennan (NYSE: MMC).

About Marsh

Marsh is the world’s leading insurance broker and risk advisor. With more than 45,000 colleagues advising clients in over 130 countries, Marsh serves commercial and individual clients with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. With annual revenue of $23 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. For more information, visit marsh.com, and follow us on LinkedIn and X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240502293756/en/

Lexie O’Connor

Media Relations

+1 857 772 0150

alexandra.oconnor@MarshMMA.com

Source: Marsh McLennan Agency

FAQ

What did Marsh McLennan Agency acquire?

Marsh McLennan Agency acquired AC Risk Management, an independent commercial lines brokerage based in Melville, New York.

What industry does AC Risk Management specialize in?

AC Risk Management specializes in providing property/casualty insurance to businesses, with a particular focus on the construction industry.

Who will continue working at AC Risk Management after the acquisition?

All ACRM employees, including CEO Matt Avellino, will continue working at their existing Melville office post-acquisition.

What benefits does the acquisition bring to Marsh McLennan Agency?

The acquisition enhances Marsh McLennan Agency's commercial line expertise, provides access to advanced tools and technologies, and strengthens its position in the construction industry.