WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh LLC, a global leader in insurance broking and risk management, today announced it has acquired Dallas, Texas-based MHBT Inc., one of the nation’s largest independent insurance brokers. Terms of the transaction were not disclosed.
With roots dating back nearly 100 years, MHBT is a leading provider of insurance, risk management, and employee benefits solutions to businesses and individuals throughout the US. The firm has annual revenue of approximately $76 million and 350 employees in five offices throughout Texas. All MHBT employees will join MMA and operate under the name “MHBT, a Marsh & McLennan Agency LLC company.”
MHBT will serve as MMA’s Southwest regional hub under the leadership of MHBT CEO Bill Henry. Anthony C. Gruppo, who has been serving as MMA’s Southwest regional CEO since 2013, will continue to serve as CEO of MMA Houston.
“MHBT is one of the premier insurance agencies in the US, with world class leadership, a client-centric culture, and a track record of growth. We are excited to add the strength, depth, and quality of MHBT’s entire team to MMA, and I personally look forward to working with Bill Henry on growing our presence in the Southwest,” said David Eslick, MMA chairman and CEO.
Mr. Henry added: “Joining MMA is the next step in the evolution of MHBT, as it represents an excellent opportunity to expand our reach, ensure new opportunities for our colleagues, and offer more resources to our clients as they navigate an increasingly challenging risk environment. Our future is bright, and we look forward to offering our clients the same level of customer service they’ve come to expect, now backed by the support and capabilities of the world’s leading insurance broker and risk advisor.”
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 offers commercial property, casualty, personal lines, and employee benefits to clients across the US.
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 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 @MarshGlobal, or on LinkedIn, Facebook and YouTube.