RLI - Marsh & McLennan Unit Sustains Its Acquisition Spree | Benzinga
Marsh & McLennan Companies, Inc.'s (NYSE: MMC) Marsh McLennan Agency ("MMA"), a division of MMC's Marsh business, recently inked a definitive deal to purchase the Illinois-based leading full-service insurance broker, The Horton Group, Inc. The transaction is expected to be completed in the third quarter of 2024, but the terms of the deal have been kept under wraps.
The addition of Horton is expected to enhance the risk management capabilities of MMA and after the finalization of the acquisition, the acquiree's employees will be part of MMA and will continue operating from their current offices.
Horton seems to be a prudent pick by MMA since it has been providing property and casualty insurance, employee benefits consultation, and personal lines coverage to businesses and individuals in Indiana, Illinois, Wisconsin, Minnesota and Florida for more than five decades.
Improved risk management strategies resulting from the recent acquisition are likely to fetch more clients to MMA and subsequently, drive the performance of the Risk and Insurance Services segment. The segment usually accounts for a major chunk of Marsh & McLennan's overall top line and the unit's revenues advanced 9.4% year over year in the first quarter.
The sub-unit Marsh, through MMA, remains quite active throughout the year with ...