WHITE PLAINS, N.Y.--(BUSINESS WIRE)--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.
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.