WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh, today announced it has acquired Vézina, a leading independent insurance brokerage firm in Montreal, Quebec. This acquisition includes the property/casualty brokerage division Vézina Assurances Inc. and group benefits division Vézina & Associes. Terms of the transaction were not disclosed.
Vézina marks MMA’s entry into the Canadian market and reinforces MMA’s commitment to serving the risk management and insurance needs of middle market companies throughout the US and now Canada.
"Since embarking on our strategy to build a preeminent middle market insurance firm, our goal has remained the same: to join forces with high quality insurance agencies," said David Eslick, chairman and CEO of MMA. “Vézina’s strong leadership team, mix of business, and emphasis on customer-centric service make it an ideal match for us to expand our strategy into Canada.”
Established in 1978, Vézina is a full-service insurance brokerage firm offering property/casualty insurance and employee benefits services to midsize businesses and individuals throughout Quebec. It generates approximately US$10 million in revenue and has 80 employees, all of whom are joining MMA. Vézina will serve as an MMA platform for future growth in Canada and will continue to be led by co-CEOs Pierre and Patrice Vézina.
“Joining MMA is the logical next step in Vézina’s evolution as it enables us to preserve our culture and service model while offering a wider range of solutions, resources, and specialized expertise to our clients,” said Pierre Vézina.
Patrice Vézina added: “We are thrilled to be joining MMA and being on the forefront of its expansion in Canada.”
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.