Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh LLC, announced today the acquisition of VISICOR, a full-service employee benefits brokerage and consulting firm based in Friendswood, Texas. Terms of the transaction were not disclosed.
With $1.5 million in annual revenue, VISICOR provides employee benefits compliance, consulting, communication, and administration services to both public and private employers throughout Texas. All of VISICOR’s leadership and employees will join MMA’s Southwest region and merge into MMA’s existing Houston office.
“I’m delighted to welcome VISICOR’s talented and experienced employee benefit specialists to MMA,” said Anthony Gruppo, CEO for MMA’s Southwest region, based in Houston. “The addition enables us to offer greater resources and a broader platform to serve the employee benefit needs of our clients throughout Texas and the Southwest.”
“Becoming a part of Marsh & McLennan Agency is the next step in the evolution of VISICOR,” said Ed Oravetz, president of VISICOR. “Our clients will continue to enjoy the same high-quality service they’ve come to expect from VISICOR while benefiting from a broader array of capabilities and resources through MMA.”David Eslick, chairman and CEO of Marsh & McLennan Agency, added: “MMA continues to attract the best and brightest in the industry. I welcome Ed Oravetz and the rest of the VISICOR team to MMA as we continue to build one of the nation’s preeminent insurance agencies focused on the middle market.” About Marsh & McLennan Agency Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the US. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the US. About Marsh Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital. With over 53,000 employees worldwide and annual revenue exceeding $11 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.