- Marsh & McLennan's ( NYSE: MMC ) agency unit acquired CS Insurance Strategies , a full-service insurance broker based in Chicago, the company said Tuesday.
- The acquired company was founded in 2009 by Charles Smith, creating a minority-owned brokerage providing employee health and benefits, business insurance, and risk management consulting services to organizations across the U.S. It has expertise in municipal, non-profit, and minority-owned business. All 10 of its employees will join Marsh McLennan Agency.
- Terms of the deal weren't disclosed.
- Early last month, Morgan Stanley downgraded Marsh & McLennan ( MMC ) and Aon ( AON ) to Underweight as brokers tend to underperform late in the property & casualty pricing cycle.
For further details see:
Marsh & McLennan acquires CS Insurance Strategies, a minority-owned broker