Marsh & McLennan Agency Acquires Eidson Insurance

Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced it has acquired Eidson Insurance, a $3.4 million revenue property/casualty and employee benefits agency based in Orlando, Florida. Terms of the transaction were not disclosed.

Established in 1943, Eidson offers a wide range of property/casualty and employee benefit services to individuals and businesses in central Florida, with a particular focus on the health care industry. All of Eidson’s employees and leadership team, including President Laura Eidson Cosgrove, will join MMA and continue operating out of the agency’s existing Orlando office. Eidson will join MMA’s Florida hub created last year by the acquisition of Seitlin Insurance, which now operates under the Marsh & McLennan Agency name.

“Eidson Insurance is a high-quality firm with a strong reputation for professionalism and service excellence,” said Tom Cornish, President and CEO, Florida Region, for Marsh & McLennan Agency. “With the addition of Eidson, MMA will now have offices in Miami, Fort Lauderdale, West Palm Beach, Jacksonville, and Orlando with 190 associates providing risk, insurance, and benefit solutions to middle market companies and individuals in Florida.”

“Joining MMA represents an exciting opportunity for all of the members of our firm to build upon the strong foundation we have forged over the last 70 years,” Ms. Cosgrove said. “Together, MMA and Eidson will be able to offer greater resources to our clients to address their increasingly complex needs.”

Commenting on the transaction, David Eslick, Chairman and CEO of Marsh & McLennan Agency, said: “I am delighted to welcome Laura and the rest of the Eidson team to MMA. Spoke acquisitions such as this are an essential component of our strategy to become one of the nation’s preeminent insurance agencies serving the needs of 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 U.S. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.

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 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 human resource consulting and related services; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.

Copyright Business Wire 2010

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