Marsh McLennan Agency Acquires Vaaler Insurance, Inc.

Rhea-AI Summary

Marsh McLennan Agency (MMA) has announced the acquisition of Vaaler Insurance, Inc., a major independent agency in North Dakota. Founded in 1947, Vaaler specializes in business insurance, employee benefits, and personal lines with a strong focus on the construction, education, and healthcare sectors. The integration aims to enhance client services and leverage new resources from MMA. CEO Bruce Vaaler will continue to manage Vaaler's operations. Terms of the acquisition were not disclosed, but this move is expected to strengthen MMA's foothold in the Upper Midwest.

Positive

• Strengthens market presence in the Upper Midwest.
• Enhances service offerings with Vaaler's expertise in construction, education, and healthcare.
• Potential for increased revenue through expanded client base.

Negative

• None.

Expands Footprint in Upper Midwest

WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Marsh McLennan Agency (MMA), the middle market agency subsidiary of Marsh, today announced the acquisition of Vaaler Insurance, Inc., one of the largest independent agencies in North Dakota. Terms of the acquisition were not disclosed.

Vaaler is a third generation family-owned business, providing business insurance, employee health and benefits, and personal lines solutions, with specialized expertise in the construction, education, and healthcare industries. Founded in 1947, Vaaler has 81 employees across offices in Grand Forks, Fargo, and Bismarck, North Dakota, as well as Fosston, Minnesota. Vaaler CEO, Bruce Vaaler will continue to lead operations in the four locations.

“Over 70 years the Vaaler team have built a regional agency recognized for their commitment to delivering exceptional client service and innovative insurance solutions,” commented Timothy Fleming, CEO of MMA’s Upper Midwest region. “Today, we’re excited to welcome Bruce and his colleagues to our growing MMA family.”

Mr. Vaaler added: “As risk continues to evolve, so does the need to provide sophisticated solutions and expertise to our clients. Joining MMA gives us the added strength and resources that will allow us to both support our clients and provide growth opportunities for our colleagues well into the future.”

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210902005120/en/

Steven Handmaker

Chief Marketing Officer

847 463 7176

Steven.Handmaker@MarshMMA.com

Source: Marsh McLennan Agency

FAQ

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

The acquisition aims to strengthen MMA's market presence in the Upper Midwest and enhance service offerings to clients.

When was Vaaler Insurance founded?

Vaaler Insurance was founded in 1947.

What types of insurance does Vaaler Insurance provide?

Vaaler provides business insurance, employee health and benefits, and personal lines solutions.

Who will lead Vaaler Insurance after the acquisition by MMA?

Bruce Vaaler, the current CEO of Vaaler Insurance, will continue to lead operations after the acquisition.

What are the financial terms of the acquisition between MMA and Vaaler Insurance?

The financial terms of the acquisition were not disclosed.