Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh LLC, today
announced that it has acquired Great
Lakes Employee Benefit Services, an employee group benefits
consulting and brokerage firm based in Troy, Michigan. Terms of the
transaction were not disclosed.
Founded in 1997 by Joseph Coan and Jim Scoggin, Great Lakes Employee
Benefit Services has annual revenues of approximately $3.4 million. The
firm offers strategic benefit consulting services to publicly and
privately held midsize organizations nationwide, including
manufacturers, financial services, communications, higher education, and
healthcare organizations.
Great Lakes will combine with MMA’s existing Michigan office, known
locally as McGraw Wentworth, further expanding MMA’s presence within the
state and the upper Midwest region. Great Lakes’ employees, including
Messrs. Coan and Scoggin, will move to McGraw Wentworth’s headquarters
in the second quarter of 2014.
“Joining MMA is the right fit for Great Lakes, our employees, and our
clients. Our founding principles are echoed in the MMA agency structure,
service model, and workplace culture,” Mr. Scoggin said. “We look
forward to joining MMA and McGraw Wentworth and gaining access to
additional resources and expertise for our clients.”
“We have long respected Jim, Joe and the entire Great Lakes team,” said
Thomas McGraw, president of McGraw Wentworth. “We welcome them to the
MMA organization and look forward to combining our local resources to
support our clients’ group benefits needs and priorities.”
Commenting on the transaction, David Eslick, chairman and CEO of Marsh &
McLennan Agency said: “Great Lakes Employee Benefit Services is a
terrific addition to our growing national roster of high-performing
firms that comprise Marsh & McLennan Agency. I welcome Joe Coan, Jim
Scoggin, and the rest of the team to MMA.”
About Marsh & McLennan Agency
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
autonomously from Marsh to offer commercial property, casualty, personal
lines, and employee benefits to clients across the U.S.
About Marsh
Marsh
is a global leader in insurance broking and risk management. We help
clients succeed by defining, designing, and delivering innovative
industry-specific solutions that help them effectively manage risk. We
have approximately 27,000 colleagues working together to serve clients
in more than 100 countries. Marsh is a wholly owned subsidiary of Marsh
& McLennan Companies (NYSE:MMC), a global professional services
firm offering clients advice and solutions in the areas of risk,
strategy, and human capital. With more than 54,000 employees worldwide
and approximately $12 billion in annual revenue, 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 talent, health, retirement, and investment
consulting; and Oliver
Wyman, a global leader in management consulting. Follow Marsh on
Twitter @Marsh_Inc.
Copyright Business Wire 2014