Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh, has purchased Senn Dunn Insurance, an independent insurance agency in North Carolina, as part of its ongoing expansion strategy.
The takeover, whose financial terms have not been disclosed, will strengthen MMA’s presence in North Carolina.
Greensboro-headquartered Senn Dunn Insurance was established in 1927. The company has annual revenue of nearly $30m and delivers various types of property/casualty insurance and employee benefit services to individuals and businesses across the US with the help of 155 staff.
The firm specializes in the construction, education, environmental, social services, and financial services industries.
On completion of the transaction, Senn Dunn’s employees and leadership team, including CEO T Gray McCaskill, will join MMA’s mid-Atlantic region and continue to operate out of their five existing offices in North Carolina including Greensboro, Raleigh, Charlotte, High Point, and Wilmington.
MMA mid-Atlantic region vice chairman Thomas Brown said: "Senn Dunn’s exemplary leadership, staff, and reputation for being a client-focused organization with strong community ties make it an excellent addition to MMA’s mid-Atlantic region.
"Together, we will be the preeminent risk management firm in the state offering clients a vast array of property/casualty and employee benefit services."
Earlier in May, MMA completed acquisition, including takeover of Texas-based Visicor, a full-service employee benefits brokerage and consulting firm; and Kinker-Eveleigh Insurance Agency, a $3.5m revenue agency located in Cincinnati, Ohio.
Marsh & McLennan Agency was set up in 2008 to fulfill the requirements of midsize businesses in the US.
The company trades autonomously from insurance broker Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the US.
Image: Marsh & McLennan headquarters in the Americas. Photo: courtesy of Americasroof.