Filed Under:Agent Broker, Personal Insurance Business

Marsh & McLennan Agency Acquires KSPH

NU Online News Service, March 13, 11:40 p.m. EDT

Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., has acquired KSPH LLC, a $5 million revenue employee benefits agency based in Glen Allen, Va.

Launched in 2000, KSPH offers a wide range of employee benefits and retirement plan services to middle market clients in Virginia. KSPH will operate within Rutherfoord, a Marsh & McLennan Agency (MMA) company.

Marsh says the acquisition will further expand Rutherfoord’s Richmond, Va., market position and add to its employee benefit capabilities.

The transaction is the third acquisition for Rutherfoord, which MMA acquired in 2010 to serve as its mid-Atlantic hub, Marsh notes. 

All of KSPH’s leadership, including Jeff Penny, co-founder and principal, and the firm’s employees will join Rutherfoord/MMA and continue operating out of their existing location.

  Since 2009, MMA has completed 17 acquisitions and currently generates approximately $340 million in annualized revenue.

Terms of the transaction were not disclosed.

Featured Video

Most Recent Videos

Video Library ››

Top Story

Animal house: 4 insurance issues that arise when kids go to college

College students bring expensive laptops, televisions, bicycles, musical instruments, cell phones and other digital devices into their new dorm rooms. Do your clients have adequate insurance coverage?

Top Story

8 ways to attract millennials to insurance

Attracting young professionals to a career in insurance is not as hard as it may sound.

More Resources

Comments

eNewsletter Sign Up

Personal Lines Pro eNewsletter

Critical insights into the personal auto, homeowners, and other consumer insurance markets to help P&C professionals stay informed – FREE! Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.