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.

Top Story

Blizzard of 2015 bypasses New York City, New England hit hard

New York City's worst blizzard was a bust. So what went wrong?

Top Story

Here are 5 things every employer needs to know about the millennials in their workforce

There are many myths and stereotypes surrounding the millennial generation, but here are the facts.

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.