Marsh & McLennan Agency Acquires J. Smith Lanier & Co.
January 13 2017 - 11:00AM
Business Wire
Acquisition Expands MMA’s Southeast
Operations
Marsh & McLennan Agency LLC (MMA), the middle market agency
subsidiary of Marsh, today announced that it has signed a
definitive agreement to acquire J. Smith Lanier & Co. (JSL),
one of the nation’s largest, privately held insurance brokerage
firms. Terms of the transaction, which is expected to close in the
first quarter of 2017 pending customary approvals, were not
disclosed.
Upon completion of the transaction, JSL will operate as MMA’s
Southeast regional hub under the leadership of JSL’s Chief
Executive, D. Gaines Lanier, and Chief Operating Officer, Gary
Ivey. Mr. Lanier will report to David Eslick, Chairman and CEO of
Marsh & McLennan Agency. All of JSL’s employees will join
MMA.
Founded in 1868, JSL is a leading provider of insurance, risk
management, and employee benefits solutions to businesses and
individuals throughout the US. Based in West Point, Georgia, JSL
has annual revenue of approximately $130 million and 600 employees
in 21 offices across Georgia, Alabama, Kentucky, Tennessee, and
Florida.
“The acquisition of J. Smith Lanier, one of the country’s
preeminent middle market insurance agencies, is a terrific addition
to MMA’s capabilities and geographic footprint,” said Peter
Zaffino, CEO of Marsh.
Mr. Eslick added: “J. Smith Lanier is among the oldest and most
highly-regarded agencies in the US. Its focus on clients,
distinguished leaders, and talented team make JSL a great fit with
MMA. I look forward to working with Gaines Lanier, Gary Ivey, and
the rest of the JSL team to further enhance MMA’s presence in the
Southeast.”
Mr. Lanier said: “J. Smith Lanier has been delivering the
expertise, advocacy, and results our clients have depended on to
help manage risk in their lives and businesses for nearly 150
years. As part of Marsh & McLennan Agency, we look forward to
delivering additional solutions for our clients and providing new
opportunities for our colleagues.”
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 30,000 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 annual revenue of US$13 billion and approximately 60,000
colleagues worldwide, 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; LinkedIn; Facebook; and YouTube.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170113005388/en/
MarshSally Roberts, 303-952-9453sally.roberts@marsh.comorLee Ann
Farwell, 212-345-1125leeann.farwell@marsh.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