Marsh Agency obtains NIA Group, expansion continues

Marsh & McLennan Agency LLC announced that it has acquired the New Jersey-based NIA Group LLC for an undisclosed sum.

NIA ranked as the 34th-largest brokerage of U.S. business in 2009, based on brokerage revenues of $69.7 million. It operates as a retail agent and broker and places commercial and personal property/casualty coverages, as well as, employee benefit programs.

NIA was founded by a general contractor in 1926. NIA Chairman Paul Gross, the grandson of founder Bernat Nelson, built NIA through acquisitions and the opening of branch offices. In 1994, NIA made its largest acquisition when it bought a majority interest in New York-based Kornreich Insurance Services.