Login

Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Marsh & McLennan Agency acquires middle-market broker Howalt McDowell

Reprints
Agents & Brokers Marsh & McLennan Mergers & Acquisitions More + Less -

White Plains, N.Y.-based Marsh & McLennan Agency L.L.C., a subsidiary of insurance broker Marsh Inc., is acquiring Howalt McDowell Insurance Inc., the largest independent agency in South Dakota. Terms of the transaction were not disclosed.

Founded in 1946, Sioux Falls, S.D.-based Howalt McDowell has annual revenue of approximately $16 million and offers a wide range of property/casualty, surety, personal protection and employee benefits insurance to midsize businesses in the upper Midwest.

All of the agency's leadership and employees, including CEO Jeff Scherschligt, will join MMA's upper Midwest hub in Minneapolis but continue to operate out of the firm's headquarters office.

Howalt McDowell is the 23rd acquisition MMA has completed since November 2009. MMA generates approximately $395 million in revenue annually.

Most Read in Risk Management

Sign up for Daily Briefing, the free email newsletter from Business Insurance.

About

Advertise

Reprints and Licensing

Resources

. Privacy Policy • Terms of Use

COPYRIGHT © 2024 BUSINESS INSURANCE HOLDINGS

Member, Beacon International Group, Ltd.