Marsh Acquires Cosmos Services; Hub Acquires Signature Insurance

Marsh, a wholly owned subsidiary of Marsh & McLennan Cos., says it has acquired Cosmos Services (America) Inc., the U.S. insurance-brokerage subsidiary of global trading firm Itochu Corp.

With offices in New York, Los Angeles and Chicago, Cosmos specializes in providing commercial P&C, personal-lines and employee-benefits brokerage services to U.S. subsidiaries of Japanese companies. It has annual revenues of approximately $8 million.

Cosmos’ employees will become part of Marsh’s Asia Client Services (ACS) team under the leadership of John McDonnell, president and CEO of ACS in the United States. Marsh says the deal further strengthens its capabilities and resources in serving Japanese clients in the U.S. and also forges a strategic relationship between Marsh and Itochu.

In other acquisition news, Chicago-based Hub International Ltd. says it has acquired the assets of Signature Insurance Group Inc., a Woodinville, Wash.-based insurance-benefits brokerage firm.

Signature is a long-standing brokerage serving the insurance and risk-management needs of businesses and individuals throughout Washington, Oregon, Idaho and Alaska. Signature offers a range of personal- and commercial-lines products and services, with a specialty in serving condominium associations and apartment complexes.

Signature will become part of the Hub International Northwest (Hub Northwest) operation.

Dennis Boyd, vice president of real estate sales, will join Hub Northwest in connection with this transaction, reporting to Erik Kuhn, vice president of commercial retail. Boyd was a former member of the Seattle Seahawks pro football organization as a player during the late ‘70s and early ‘80s. 

Terms of both transactions were not disclosed.

Featured Video

Most Recent Videos

Video Library ››

Top Story

Bon voyage: 4 keys to staying safe during vacation season

Public areas provide the greatest risks when traveling.

Top Story

Latest explosive California wildfire destroys dozens of homes [slideshow]

California's Detwiler fire has grown to more than 100 square miles and forced thousands to flee their homes.

More Resources

Comments

eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.