Dec 21, 2009 – Marsh & McLennan Agency LLC acquires The NIA Group, LLC

Marsh & McLennan Agency LLC acquires The NIA Group, LLC
Dec 21, 2009 –NEW YORK–Marsh & McLennan Agency LLC, a subsidiary of
insurance broker Marsh Inc., today announced it has acquired The NIA Group, LLC, one
of the largest independent insurance agencies in the Northeast and the 34th largest agency
in the U.S., and its New York City office Kornreich-NIA. The transaction is part of a
series of strategic acquisitions as Marsh & McLennan Agency builds a national business
to serve the needs of mid-sized companies across the country. Terms of the transaction
were not disclosed.
Established in 1926, The NIA Group has annual revenue of $62 million and has offices in
New Jersey, New York, Connecticut, and Florida. Headquartered in Paramus, New
Jersey, The NIA Group has approximately 400 employees and provides property and
casualty insurance, employee benefits, personal insurance and life insurance / estate
planning.
David Eslick, chairman and CEO of Marsh & McLennan Agency, said, “The addition of
The NIA Group and Kornreich-NIA to our firm gives us a strong operation in the New
York metropolitan area and Florida. We’re delighted to welcome the leadership team and
the employees of The NIA Group and Kornreich-NIA to our firm. They have a wellearned and longstanding reputation for professionalism and service excellence, which we
view as essential elements for the national organization we are building at Marsh &
McLennan Agency.”
Paul Gross, chairman of The NIA Group, said, “We are pleased to be joining with David
and the leadership of Marsh & McLennan Agency and look forward to working as part of
the team to create one of the preeminent national organizations in our industry.”
In October 2008, Marsh established Marsh & McLennan Agency to be one of the
premiere insurance agencies in the United States, offering commercial property and
casualty, personal lines, employee benefits and life insurance/estate planning to clients
across the U.S.; Mr. Eslick joined the firm at the start of 2009 with a track record of
success in building national insurance agencies in the same manner. Last month, Marsh
& McLennan Agency acquired Insurance Alliance, one of the largest independent
insurance agencies in the Southwest.
About The NIA Group, LLC:
Headquartered in Paramus, New Jersey, The NIA Group, LLC operates a network of
branch offices in New Jersey, New York, Connecticut, and Florida, employing
approximately 400 insurance professionals. As a full-service brokerage firm, NIA
provides insurance and financial services to more than 10,000 businesses and 30,000
individuals and families. For more information about The NIA Group, visit
www.niagroup.com.
About Marsh & McLennan Agency LLC:
Marsh & McLennan Agency LLC, a subsidiary of Marsh Inc., the world’s leading
insurance broker and risk advisor, was established in 2008 to meet the needs of mid-sized
businesses in the U.S. The firm will operate independently from Marsh to offer
commercial property, casualty, personal lines, and employee benefits to clients across the
U.S.
Marsh Inc. has over 23,000 employees and provides advice and transactional capabilities
to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies
(MMC), a global professional services firm with approximately 52,000 employees and
annual revenue of $11 billion. MMC also is the parent company of Guy Carpenter, the
risk and reinsurance specialist; Kroll, the risk consulting firm; Mercer, the provider of
HR and related financial advice and services; and Oliver Wyman, the management
consultancy. MMC’s stock (ticker symbol: MMC) is listed on the New York, Chicago
and London stock exchanges. MMC’s Web Site is www.mmc.com. Marsh’s Web site is
www.marsh.com.
Mystic Capital Advisors Group, LLC provided transaction advisory services to Marsh &
McLennan Agency LLC. For more information on Mystic Capital, please contact Kevin
P. Donoghue at 212-251-0972 or visit www.mysticcapital.com
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