Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh LLC, announced
today the acquisition of VISICOR,
a full-service employee benefits brokerage and consulting firm based in
Friendswood, Texas. Terms of the transaction were not disclosed.
With $1.5 million in annual revenue, VISICOR provides employee benefits
compliance, consulting, communication, and administration services to
both public and private employers throughout Texas. All of VISICOR’s
leadership and employees will join MMA’s Southwest region and merge into
MMA’s existing Houston office.
“I’m delighted to welcome VISICOR’s talented and experienced employee
benefit specialists to MMA,” said Anthony Gruppo, CEO for MMA’s
Southwest region, based in Houston. “The addition enables us to offer
greater resources and a broader platform to serve the employee benefit
needs of our clients throughout Texas and the Southwest.”
“Becoming a part of Marsh & McLennan Agency is the next step in the
evolution of VISICOR,” said Ed Oravetz, president of VISICOR. “Our
clients will continue to enjoy the same high-quality service they’ve
come to expect from VISICOR while benefiting from a broader array of
capabilities and resources through MMA.”
David Eslick, chairman and CEO of Marsh & McLennan Agency, added: “MMA
continues to attract the best and brightest in the industry. I welcome
Ed Oravetz and the rest of the VISICOR team to MMA as we continue to
build one of the nation’s preeminent insurance agencies focused on the
middle market.”
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 US. MMA operates
autonomously from Marsh to offer commercial property, casualty, personal
lines, and employee benefits to clients across the US.
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 26,000 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 over 53,000 employees worldwide
and annual revenue exceeding $11 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 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