Marsh & McLennan Agency Acquires Employee Benefits Division of Kaeding, Ernst & Company
New York, November 04, 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."
About Marsh
Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 25,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of
Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 52,000 employees worldwide and annual revenue exceeding $10 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 human resource consulting and related services; and
Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter
@Marsh_Inc.