White Plains, New York, September 10, 2012
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced that it has acquired Rosenfeld Einstein, a $9 million property/casualty and employee benefits agency based in Greenville, South Carolina. Terms of the transaction were not disclosed.
With roots dating back to 1933, Rosenfeld Einstein offers a wide range of property/casualty and employee benefit services to clients in the Southeast and mid-Atlantic regions. All of the agency’s 55 employees, including principals Dan Einstein, Howard Einstein, and Nathan Einstein will join MMA’s mid-Atlantic hub led by Rutherfoord, a Marsh & McLennan Agency LLC company, and continue operating out of the firm’s Greenville, South Carolina office.
“As a well-managed and growing enterprise with a strong platform of property/casualty and employee benefits and a reputation for service excellence, Rosenfeld Einstein is a perfect fit to join MMA in the mid-Atlantic,” said Thomas R. Brown, vice chairman of Rutherfoord/MMA. “With this transaction, we are expanding our market position into South Carolina and enhancing our property/casualty and employee benefit capabilities to better serve the needs of our clients.”
“As the risk management, health care, and employee benefit landscapes continue to evolve, joining forces with MMA provides our clients with access to even-greater depth and breadth of risk expertise and a wider array of services and solutions to meet the emerging and complex risk issues they face,” said Howard Einstein, principal of Rosenfeld Einstein. “We are thrilled to be joining forces with MMA and look forward to helping to build what is fast becoming one of our industry’s top national businesses.”
Commenting on the transaction, David Eslick, chairman and CEO of Marsh & McLennan Agency, said: “Rosenfeld Einstein is another example of MMA’s ability to attract high-quality talent and expertise to our growing firm. We welcome Dan, Howard, Nathan, and the rest of the Rosenfeld Einstein team to MMA.”
Rosenfeld Einstein is the 21st acquisition Marsh & McLennan Agency has completed since November 2009. MMA currently generates approximately $380 million in annualized revenue.
About Marsh & McLennan Agency
Headquartered in White Plains, New York, Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to meet the needs of midsize businesses in the U.S. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.