Marsh & McLennan Agency Expands Florida Hub
Latest acquisition brings P&C, employee benefits for health care industry to MMAs team.
Virtual Water Cooler, September 6, 2012
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., is expanding its presence in the Florida market with the acquisition of Eidson Insurance, a $3.4 million revenue property/casualty and employee benefits agency based in Orlando, Florida. Terms of the transaction were not disclosed.
Established in 1943, Eidson offers a range of property/casualty and employee benefit services to individuals and businesses in central Florida, with a particular focus on the health care industry. The entire Eidson team, including President Laura Eidson Cosgrove, will merge with MMA and continue operating out of the agency’s existing Orlando office. Eidson will join MMA’s Florida hub created last year by the acquisition of commercial insurance provider Seitlin Insurance, which now operates under the Marsh & McLennan Agency name.
“Eidson Insurance is a high-quality firm with a strong reputation for professionalism and service excellence,” said Tom Cornish, president and CEO, Florida Region, for Marsh & McLennan Agency. “With the addition of Eidson, MMA will now have offices in Miami, Fort Lauderdale, West Palm Beach, Jacksonville, and Orlando with 190 associates providing risk, insurance, and benefit solutions to middle market companies and individuals in Florida.”
“Joining MMA represents an exciting opportunity for all of the members of our firm to build upon the strong foundation we have forged over the last 70 years,” Cosgrove said. “Together, MMA and Eidson will be able to offer greater resources to our clients to address their increasingly complex needs.”
Commenting on the transaction, David Eslick, chairman and CEO of Marsh & McLennan Agency, said: “I am delighted to welcome Laura and the rest of the Eidson team to MMA. Spoke acquisitions such as this are an essential component of our strategy to become one of the nation’s preeminent insurance agencies serving the needs of the middle market.”
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