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Marsh McLennan Agency (MMA) has announced the acquisition of HMS Insurance Associates, a major independent agency based in Hunt Valley, Maryland. Although the financial terms of the deal were not disclosed, this acquisition aims to enhance MMA's service offerings in the Mid-Atlantic region. HMS, founded in 1943, specializes in property/casualty insurance and employee benefits, boasting a strong workforce of over 120 employees. The integration is expected to bolster MMA's capacity for customer service and employee development, aligning with their strategic goals for growth.
Positive
Acquisition enhances MMA's service capabilities in the Mid-Atlantic region.
HMS's strong leadership and client retention add value to MMA.
MMA aims to improve employee training and career development.
Negative
None.
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--
Marsh McLennan Agency (MMA), a subsidiary of Marsh, today announced the acquisition of Hunt Valley, Maryland-based HMS Insurance Associates, Inc., one of the nation’s largest independent agencies. Terms of the acquisition were not disclosed.
Founded in 1943, HMS provides businesses and individuals in the Mid-Atlantic with property/casualty insurance, surety, group captive, and employee benefits. All of HMS’ more than 120 employees, including President Gary L. Berger, will join MMA and continue to work out of the Hunt Valley, Maryland office.
“The MMA goal has always been to partner with the best firms and together build a unique experience for colleagues and clients,” commented John Stanchina, CEO of MMA’s Mid-Atlantic region. “With exceptional leadership, client satisfaction, long-term client retention, and decades of profitable growth, we are delighted to bring the HMS team on board.”
Mr. Berger added: “We are excited to join the MMA family given the alignment we share in our approach to customer service, employee engagement, and carrier partnership. This is an opportunity to continue to enhance our capabilities and deepen our industry relationships, as well as augment the training and career development resources available to colleagues, in turn equipping them to best meet client needs.”
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 9,500 colleagues and 170 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 over 45,000 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 of over $20 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.
What does the acquisition of HMS Insurance Associates by MMA mean for MMC stockholders?
The acquisition is expected to enhance service capabilities and potentially drive revenue growth in the Mid-Atlantic region, beneficial for MMC stockholders.
What are the details of the acquisition of HMS Insurance Associates by Marsh McLennan Agency?
MMA has acquired HMS Insurance Associates, a leading independent agency, although specific financial terms were not disclosed.
How will the acquisition impact Marsh McLennan Agency's operations?
The acquisition will integrate over 120 HMS employees into MMA, enhancing service offerings and potentially improving client engagement.
When was HMS Insurance Associates founded?
HMS Insurance Associates was founded in 1943.
What services does HMS Insurance Associates provide?
HMS specializes in property/casualty insurance, surety, group captive, and employee benefits.
