Marsh McLennan Agency to Acquire The Horton Group, Inc.
Marsh McLennan Agency (MMA), a subsidiary of Marsh, is set to acquire The Horton Group, a top independent insurance broker based in Orland Park, IL. Horton, founded in 1971, is known for its expertise in property and casualty insurance, employee benefits consultation, and personal lines coverage, serving clients in Indiana, Illinois, Wisconsin, Minnesota, and Florida. The financial details of the acquisition were not disclosed. Horton's CEO, Dan Horton, along with the company's employees, will join MMA and continue to operate from their current nine offices. The acquisition is expected to close by the third quarter of 2024, with both companies looking forward to leveraging their combined capabilities to offer enhanced risk management solutions to clients.
- Marsh McLennan Agency expands its market reach by acquiring a top independent insurance broker.
- Horton Group brings expertise in property and casualty insurance, employee benefits consultation, and personal lines coverage.
- Horton employees, including CEO Dan Horton, will join Marsh McLennan Agency, ensuring continuity.
- The acquisition is expected to close by the third quarter of 2024, potentially contributing to revenue growth and market expansion.
- None.
Insights
The acquisition of The Horton Group by Marsh McLennan Agency (MMA) is noteworthy for several reasons. Firstly, The Horton Group is a substantial player in the insurance brokerage industry, with a solid presence across several states. This move aligns with MMA's strategy to expand its footprint and broaden its service offerings.
From a financial perspective, such acquisitions can lead to operational synergies and cost efficiencies, which are beneficial in the long term. However, the terms of the acquisition have not been disclosed, making it difficult to evaluate the immediate financial impact. Investors should watch for any updates on how this acquisition will be financed and its effect on Marsh McLennan's balance sheet and cash flow.
Another factor to consider is the integration of The Horton Group’s operations and employees. The seamless integration of these elements is important for realizing the anticipated benefits. Historically, mergers and acquisitions within the insurance brokerage sector have shown mixed results, with some achieving significant growth and others facing integration challenges.
The acquisition of The Horton Group by Marsh McLennan Agency signifies a strategic move to increase market share and enhance service offerings. The Horton Group's strong regional presence in states like Illinois, Indiana, Wisconsin, Minnesota and Florida provides MMA with an expanded client base and diversified market reach.
This acquisition is particularly important as it brings a blend of property and casualty insurance, employee benefits consultation and personal lines coverage under one umbrella. Such diversity in offerings can help MMA cater to a broader range of clients, providing them with comprehensive risk management solutions. It also positions MMA competitively against other large insurance brokers.
Moreover, retaining the existing Horton employees, including CEO Dan Horton, suggests a focus on maintaining continuity and leveraging existing relationships and expertise, which can be critical for client retention and satisfaction during the transition period.
Founded in 1971, Horton offers property and casualty insurance, employee benefits consultation, and personal lines coverage to businesses and individuals across
“We have been impressed by the Horton team and their capabilities for many years and are thrilled to welcome them to Marsh McLennan Agency,” said Tony Chimino, CEO of Marsh McLennan Agency’s Midwest region. “From their industry specialties to breadth of expertise, they share our passion for bringing clients a strategic approach to risk management.”
Mr. Horton added: “Marsh McLennan Agency is among the best in the business, and we are proud to be a part of their team. We’re eager to hit the ground running to deliver enhanced solutions for clients as they navigate their unique exposures.”
The deal is anticipated to close within the third quarter of 2024.
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 11,000 colleagues and 200 offices across
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
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Salina Pellios
Media Relations
332-284-4154
salina.pellios@mmc.com
Source: Marsh McLennan Agency
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