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.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.