Marsh McLennan Agency Acquires CS Insurance Strategies

Rhea-AI Summary

Marsh McLennan Agency (MMA) has acquired CS Insurance Strategies, Inc., a Chicago-based insurance agency specializing in employee health, business insurance, and risk management. Founded in 2009, CS Insurance is minority-owned and serves diverse clients, particularly in municipal and non-profit sectors. The acquisition enhances MMA's capacity to deliver competitive solutions and expands growth opportunities for both organizations. All ten CS Insurance employees will join MMA, indicating a commitment to integrating local expertise into MMA's broader service offerings.

Positive

• Acquisition expands MMA's services in the Midwest region.
• CS Insurance's expertise in municipal and minority-owned businesses enhances MMA's client offerings.
• Growth opportunities for employees and improved service delivery for clients.

Negative

• None.

Adds Expertise in Midwest Region

WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Marsh McLennan Agency (MMA), a subsidiary of Marsh, today announced the acquisition of CS Insurance Strategies, Inc., a full-service insurance agency based in Chicago. Terms of the acquisition were not disclosed.

Founded in 2009 by CEO Charles Smith, CS Insurance Strategies is a minority-owned brokerage providing employee health and benefits, business insurance, and risk management consulting services to organizations of all sizes across the US. CS Insurance Strategies serves clients across all industries, with specialized expertise in municipal, non-profit, and minority-owned businesses. All ten employees will join MMA.

“Over the years, CS Insurance Strategies has grown to be a dynamic and influential organization under Charles’ leadership. The agency’s commitment to helping clients navigate complicated risk and insurance issues very much mirrors our own passion for serving growing businesses. We are looking forward to welcoming the CS team to MMA,” commented Tony Chimino, CEO of MMA’s Midwest region.

Mr. Smith added: “This is an exciting next step for CS Insurance Strategies. By joining MMA, our capacity to deliver more competitive strategies and innovative solutions to mid-market clients has increased exponentially. In addition, the growth opportunities for our colleagues and dedication to serving the local community will continue to expand.”

About Marsh McLennan Agency

Marsh McLennan Agency (MMA) provides business insurance, employee health & benefits, retirement, and private client insurance solutions to organizations and individuals seeking limitless possibilities. With 9,000 colleagues and 160 offices across North America, MMA 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 around 40,000 colleagues operating in more than 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 over $18 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 mmc.com, follow us on LinkedIn and Twitter or subscribe to BRINK.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220705005155/en/

Steven Handmaker

Chief Marketing Officer

+1 847 463 7176

Steven.Handmaker@MarshMMA.com

Source: Marsh McLennan Agency

FAQ

What is the purpose of Marsh McLennan Agency's acquisition of CS Insurance Strategies?

The acquisition aims to enhance MMA's service offerings and expand its reach in the Midwest, particularly within municipal and minority-owned businesses.

When was the acquisition of CS Insurance Strategies by Marsh McLennan Agency announced?

The acquisition was announced on July 5, 2022.

What impact will the acquisition of CS Insurance Strategies have on Marsh McLennan Agency (MMC)?

The acquisition is expected to increase MMA's capacity to deliver competitive strategies and innovative solutions, benefiting mid-market clients.

How many employees from CS Insurance Strategies will join Marsh McLennan Agency?

All ten employees of CS Insurance Strategies will join Marsh McLennan Agency as part of the acquisition.