WHITE PLAINS, N.Y.--(BUSINESS WIRE)--In its largest acquisition to date, Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh LLC., today announced it has acquired San Diego, California-based Barney & Barney, LLC, the country’s 34th largest brokerage firm. Terms of the transaction were not disclosed.
Founded in 1909, Barney & Barney is a leading provider of insurance, risk management, and employee benefits solutions to businesses and individuals throughout the US and abroad. The firm has annual revenue of $100 million and 500 employees, all of whom will join MMA. Barney & Barney will serve as MMA’s Western regional hub under the leadership of Barney & Barney CEO Paul Hering.
“Barney & Barney’s top-notch leadership, client-centric culture, excellent reputation, and phenomenal track record for growth makes it the ideal partner to lead this very important geography for MMA,” said David Eslick, chairman and CEO of Marsh & McLennan Agency. “I welcome Barney & Barney to MMA and look forward to working with Paul Hering to further build out MMA’s presence in the West.”
Mr. Hering added: “We are excited to begin a new chapter with the MMA team. This transition is an excellent opportunity to expand our reach, ensuring new opportunities for our associates and more resources for our clients. Barney & Barney’s commitment to clients, colleagues, and community will remain the foundation for all we do as we continue to provide our clients the world-class support and expertise they’ve come to expect.”
Peter Zaffino, president and CEO of Marsh, said: “Since the launch of Marsh & McLennan Agency in 2008, we have steadily built the premier national platform to serve the insurance needs of midsize US businesses. The acquisition of Barney & Barney represents a key milestone, further enhancing our geographic footprint, our capabilities, and our position as one of the nation’s largest agencies.”
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the US. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the US.
Marsh is a global leader in insurance broking and risk management. We help clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. We have approximately 27,000 colleagues working together to serve clients in more than 100 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 human capital. With more than 54,000 employees worldwide and approximately $12 billion in annual revenue, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.