White Plains, New York – Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced the acquisition of San Diego, California-based Nico Insurance Services Inc. Terms of the acquisition were not disclosed.
Nico Insurance has provided employee benefits solutions to groups and individuals since 1979 and specializes in serving nonprofit organizations. Following the acquisition, Steven Nico, President of Nico Insurance, will transition his team of four colleagues to MMA’s San Diego office.
“For over four decades, Nico Insurance has provided hands-on consulting to San Diego businesses navigating the changing employee benefits landscape,” said Chris Williams, MMA West Region CEO. “Their expertise in the nonprofit space and their commitment to client service makes them an ideal fit for MMA’s growing organization.”
Mr. Nico added: “Taking care of clients is our highest priority. By joining MMA we will be able to offer organizations even more resources and solutions designed to help their business succeed. We are excited for what the future holds for our team and our clients.”
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.