WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced that it has acquired Blakestad, Inc., a private client and commercial lines independent insurance agency. Terms of the transaction were not disclosed.
Headquartered in Minneapolis, Minnesota, Blakestad provides property/casualty insurance to privately held businesses and individuals, with particular expertise in working with high-net worth individuals and families worldwide. All of Blakestad’s employees and leadership, including its president Jerod Blakestad, are joining MMA and will continue operating out of the firm’s current Minneapolis office.
“The addition of Blakestad to our firm expands our capabilities in the private client market with an established agency and highly regarded team of professionals,” said Bill Jeatran, CEO of MMA’s upper Midwest region.
Mr. Blakestad added: “We look forward to joining the MMA team, which allows us to expand the resources we can offer clients and continue to grow our practice.”
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 30,000 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 annual revenue of US$13 billion and approximately 60,000 colleagues worldwide, 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; LinkedIn; Facebook; and YouTube.