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Marsh McLennan Agency (MMA) has acquired InSource Insurance Group LLC, an independent agency based in Texas. This strategic move enhances MMA's presence in the Southwest region, particularly in the energy sector, aligning with InSource's expertise in providing business insurance and employee benefits since 1986. InSource brings 45 employees from Midland and Odessa, Texas, strengthening MMA's regional capabilities. Although transaction terms were not disclosed, this acquisition is anticipated to bolster client service and offerings in West Texas.
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Acquisition of InSource Insurance Group expands MMA's expertise in the energy sector.
Strengthened regional presence in Texas with 45 new employees.
Potential for enhanced client services and resources for West Texas businesses.
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None.
Expands Presence in Southwest Region
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--
Marsh McLennan Agency (MMA), a subsidiary of Marsh, today announced the acquisition of InSource Insurance Group LLC, a leading independent agency in Texas. Terms of the acquisition were not disclosed.
InSource Insurance Group was formed in 1986 to provide business insurance, employee health and benefits, private client, and surety services to the oil and gas, construction, manufacturing, and transportation industries. InSource will help lead the Southwest region’s energy industry vertical, with 45 employees across offices in Midland and Odessa, Texas, joining MMA.
“Based in the heart of the Permian Basin, InSource Insurance Group is well respected within the region for their commitment to quality client service and industry expertise,” commented Bill Henry, CEO of MMA’s Southwest region. “The InSource team, its leadership, and its knowledge of the oil and gas industry are valuable additions to MMA’s growing organization.”
David L. Wood, Partner at InSource Insurance Group, said, “Joining MMA provides more opportunities for both our colleagues and our clients. We’re looking forward to providing our clients with access to new expertise, tools and resources, making us an even stronger partner for businesses in West Texas.”
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 8,000 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.
