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Marsh & McLennan Agency buys Celedinas Insurance Group

Marsh's middle market agency subsidiary Marsh & McLennan Agency (MMA) has acquired Florida-based Celedinas Insurance Group.

MMA

The companies did not disclose the financial terms of the transaction.

Founded in 1959, Celedinas provides property/casualty insurance, marine insurance, and employee benefits services to businesses and individuals.

With around $22m annual revenues, the group is specialized in providing insurances services to high-net worth individuals and families.

Under the deal, Celedinas’ 120 employees, including president and CEO Ray Celedinas are joining MMA.

They will operate the acquired business from the existing five offices throughout Florida under the same brand name.

Celedinas said: "With the resources that MMA and Marsh bring to bear, our clients now have access to a wider range of expertise, services, and solutions to address their needs."

MMA chairman and CEO David Eslick said: "Celedinas is a top-notch, full service insurance brokerage firm that is widely recognized as a leader in the high-net worth personal lines industry."

In January 2015, MMA acquired North Carolina-based employee benefit consulting firm, The Benefit Planning Group (BPG).

Established in 1991, BPG offers employee benefits and insurance services to the health care community, including medical schools, physicians, and medical practices.

MMA provides commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals in North American countries.


Image: Celedinas offers property/casualty insurance, marine insurance, and employee benefits services. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.