Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced that it has acquired Klein Agency, Inc., a St. Paul, Minnesota-based surety and property/casualty agency specializing in the construction industry. Terms of the transaction were not disclosed.
Klein Agency is a third-generation family-run agency. It has focused for more than 50 years on helping construction companies with their surety bonding, as well as personal and business insurance needs. All of Klein’s employees and leadership will join MMA, and continue operating out of Klein’s existing office.
“With Klein Agency’s people, resources, and expertise now part of MMA, our region will expand its ability to deliver world class surety services to our construction clients in Minnesota as well as the upper Midwest,” said Tim Fleming, CEO of MMA’s upper Midwest region.
“We’re eager to begin working collaboratively with our new colleagues at MMA. Together, we will deliver an enhanced suite of services to our clients,” said Steve Klein, Vice President of Klein Agency.
About Marsh & McLennan AgencyMarsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. In 2015, it expanded its national footprint into Canada. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 30,000 colleagues work together to serve clients in more than 130 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 people. With annual revenue of US$13 billion and approximately 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a leader in providing risk and reinsurance intermediary services; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Follow Marsh on Twitter, @MarshGlobal; LinkedIn; Facebook; and YouTube.