Marsh & McLennan Agency Acquires Cline Wood Agency
August 03 2015 - 9:00AM
Business Wire
Specialty Agency Delivers Transportation and
Agribusiness Expertise
Marsh & McLennan Agency LLC (MMA), the middle market agency
subsidiary of Marsh, today announced it has acquired Cline Wood
Agency, a suburban Kansas City-based independent specialty
insurance agency. Terms of the transaction were not disclosed.
Founded in 1984, Cline Wood specializes in providing
property/casualty insurance and risk management and safety services
to clients of all sizes operating within the commercial
transportation and agribusiness industries. Cline Wood generates
$15 million in annual revenues and has 73 employees who operate out
of three offices in Leawood, Kansas; Arlington, Texas; and St.
Louis, Missouri.
All of Cline Wood’s employees and leadership, including founders
John Cline and Mike Wood and CEO Carol Barnett, are joining MMA’s
upper Midwest region, which is under the leadership of regional CEO
Bill Jeatran.
“Cline Wood’s leadership in transportation and agribusiness was
very appealing to us as we continue building our expertise in a
variety of industry segments,” said David Eslick, MMA chairman and
CEO. “The team, culture, and leaders that John Cline, Mike Wood,
and Carol Barnett have assembled will be a great fit with the rest
of MMA.”
Cline Wood’s Ms. Barnett added: “Joining MMA gives Cline Wood a
unique opportunity to bring more resources to our clients
throughout the country, including offering new lines of services
such as employee benefits. We’re excited to begin working with the
great people across MMA in this endeavor while maintaining our
culture, which has gotten us to where we are today.”
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC is a subsidiary of Marsh
established in 2008 to serve as a platform for the middle market.
In 2015, it expanded its national footprint into Canada. MMA offers
commercial property, casualty, personal lines, and employee
benefits to midsize businesses and individuals across North
America.
About Marsh
Marsh is a global leader in insurance broking and risk
management. Marsh helps clients succeed by defining, designing, and
delivering innovative industry-specific solutions that help them
effectively manage risk. Marsh’s approximately 27,000 colleagues
work together to serve clients in more than 130 countries. Marsh is
a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:
MMC), a global professional services firm offering clients advice
and solutions in the areas of risk, strategy, and people. With
57,000 colleagues worldwide and annual revenue exceeding US$13
billion, Marsh & McLennan Companies is also the parent company
of Guy Carpenter, a leader in providing risk and reinsurance
intermediary services; Mercer, a leader in talent, health,
retirement, and investment consulting; and Oliver Wyman, a leader
in management consulting. Follow Marsh on Twitter @MarshGlobal, or
on LinkedIn, Facebook and YouTube.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150803005160/en/
Marsh & McLennan AgencyJeff Mulfinger,
763-746-8257mulfingerj@rjfagencies.com
Marsh and McLennan Compa... (NYSE:MMC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Marsh and McLennan Compa... (NYSE:MMC)
Historical Stock Chart
From Apr 2023 to Apr 2024