Marsh & McLennan Agency Acquires Employee Benefits Division of Kaeding, Ernst & Company

 

NEW YORK, November 4, 2011 – Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced it has acquired the employee benefits division of Kaeding, Ernst & Company, a Marlborough, Massachusetts-based employee benefits, life insurance, and financial planning consulting firm. Terms of the transaction were not disclosed. The division, with approximately $600,000 in annual revenue, will become a part of Bostonian Group, a Marsh & McLennan Agency company, further expanding Bostonian’s depth and expertise in employee benefits.

 

The transaction is the second complementary acquisition for Bostonian/MMA following the February acquisition of the Boston office of Kinloch Consulting Group Inc., the employee benefits division of Kinloch Holdings Inc.

 

“Kaeding, Ernst has built a strong reputation of delivering trustworthy advice and innovative solutions to its employee benefit clients. We are delighted to welcome Tricia Mackoff and Linda DeJordy, two seasoned employee benefit professionals, to our expanding employee benefits team at Bostonian,” said Jim Blue, CEO of Bostonian/MMA.

 

Commenting on the transaction, David Eslick, chairman and CEO of Marsh & McLennan Agency, said: "The addition of these talented individuals to Bostonian/MMA is part of Marsh & McLennan Agency’s strategy to build a preeminent property, casualty and employee benefits organization primarily serving the needs of the middle market."

 

Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the U.S. MMA operates independently from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.

Marsh, the world’s leading insurance broker and risk advisor, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has around 25,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a member of Marsh & McLennan Companies, a global professional services firm with 52,000 employees worldwide and annual revenue exceeding $10 billion, which is also the parent company of Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. Its stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. Follow Marsh on Twitter @Marsh_Inc.