In a move that dramatically accelerates its national growth, Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., has acquired Thomas Rutherfoord Inc., the country's 32nd largest brokerage firm and 14th largest independently- owned firm in the U.S. The acquisition makes MMA the country's 13th largest insurance agency. Terms of the transaction are not disclosed.
Rutherfoord's top three executives, Thomas D. Rutherfoord, Jr., chairman, Vice-Chairman Thomas R. Brown and George A. "Shad" Steadman, III, a CIAB board member for more than 20 years and chairman in 2008, will continue to lead the regional business. All of Rutherfoord's employees will remain with the firm and join the MMA network.
The Virginia-based insurance broker will continue to operate under the Rutherfoord name for the foreseeable future.
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