NU Online News Service, Jan. 6, 1:24 p.m. EST

The 2011 merger and acquisition spree continued with the recent announcements of six agencies acquired by four major insurance brokerage firms, with Marsh & McLennan Agencies scoring the largest of the lot.

Marsh & McLennan Agencies (MMA), a subsidiary of insurance broker Marsh, said it has acquired RJF Agencies of Minneapolis.

Founded in 1986, RJF has annual revenue of approximately $25 million and roughly 150 employees. The firm provides property and casualty insurance and employee benefits to middle market companies in a range of industries. RJF has specialty practices in manufacturing, condominium and townhome associations, management liability, and contractors, among others. All of RJF's employees and leadership team, including Bill Jeatran, chief executive officer, and Tim Fleming, president, will join MMA.

MMA said RJF will serve as the firm's upper Midwest hub.

Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired Balcos Insurance Inc. and Mike Howard Insurance of Seattle.

Founded in 1985, Balcos Insurance serves clients throughout the western United States. With annual revenues of approximately $3 million, Balcos offers a broad spectrum of personal lines and commercial lines insurance, as well as specialized products and services for the restaurant and hospitality, automotive service and repair, construction, and manufacturing and distribution industries, among other specialty niches.

Mike Howard Insurance, with annual revenues of approximately $500,000, has provided its individual and business clients in the greater Seattle area and throughout the state of Washington with a variety of personal, life and commercial insurance products and services since 1992.

With completion of the transaction, Brown & Brown of Washington will operate from two new locations in Seattle and Bellingham, Wash., under the direction of Mark Balcos, principal of Balcos insurance.

Wells Fargo Insurance Services USA, a subsidiary of San Francisco bank Wells Fargo & Co., said it has acquired Prestige Professional Plans, a single-office, employee benefits insurance brokerage firm located in Dayton, Ohio.

Serving customers in Ohio since 1985, Prestige Professional provides business and individual customers with employee benefits consulting and brokerage services including medical, dental, life, vision, disability and various other health insurance plans.

After announcing four acquisitions recently, Chicago-based insurance broker HUB International said it has acquired two more brokerage firms.

The firm said it has acquired Phoenix Insurance Group Grande Prairie, based in Grande Prairie, Alberta, Canada, and Farr Insurance Group of Venice, Fla.

Established 12 years ago, Grande Prairie arranges commercial and personal lines programs for an array of customers, with a niche in oil and gas production.

Grande Prairie will become part of HUB International Barton within the HUB International Canada West region.

The three partners of Grande Prairie--Bruce George, Mark Marcotte and Elizabeth Fiegehen--will join HUB Barton as part of this acquisition, reporting to Richard Burley, vice president of HUB Barton.

Farr Insurance, founded in 1978, works with approximately 10,000 clients throughout the state of Florida, with a large concentration in Sarasota County. The firm places homeowners, automobile and flood insurance for personal lines customers in the Venice region, as well as commercial insurance programs.

Farr Insurance will become part of HUB International Northeast Ltd. The principals of Farr Insurance--Latimer and Cindy Farr--will join HUB and continue to operation out of their existing locations in Venice and Sarasota, Fla.

Financial terms of all of the transactions were not released.

Special Reports /

Acquisition Spree Continues; Marsh Acquires RJF Agencies

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