Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced that it has acquired Otis-Magie Insurance Agency Inc., one of the largest privately owned independent agencies in northern Minnesota. Terms of the transaction were not disclosed.
Headquartered in Duluth, and with origins dating back to 1886, Otis-Magie provides business insurance, employee benefits, and personal insurance products and services to clients throughout the northern Minnesota region. Otis-Magie’s 46 employees will continue operating out of their existing locations under the name Otis-Magie, a Marsh & McLennan Agency LLC company. Tom Stender, who has served as Chairman and CEO of Otis-Magie since 2011, will continue to lead the operation.
“MMA is committed to investing in and supporting the insurance and risk management needs of employers and individuals in northern Minnesota and Wisconsin,” said Tim Fleming, CEO of MMA’s upper Midwest region. “We’ve known Otis-Magie for years and are thrilled to have these talented people on our team. Combined, we will deliver unparalleled risk expertise and service to clients in the region.”
“We are delighted to join MMA and bring new and additional services to clients and greater growth opportunities to our colleagues,” Mr. Stender said.
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. 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.