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Member, Beacon International Group, Ltd.
White Plains, N.Y.-based Marsh & McLennan Agency L.L.C. has acquired the Protector Group Insurance Agency, one of the largest independent insurance agencies in New England, based in Worcester, Mass.
Founded in 1928, the Protector Group offers a wide range of property/casualty insurance, employee benefits services and financial services to midsize companies throughout New England. The agency generates approximately $13.6 million in annual revenues and has 84 employees operating out of three offices in Massachusetts: Worcester, Leominster, and Wellesley.
Though Protector Group will join MMA’s Boston-based office, further expanding the region’s employee benefit capabilities and adding new property/casualty insurance resources, all of the agency’s leadership and employees will join MMA and continue to operate out of Protector Group’s existing offices, according to a Marsh Inc. statement.
Protector Group is the 24th acquisition completed by MMA, a unit of New York-based Marsh Inc., since November 2009. MMA generates approximately $410 million in annualized revenue.
Terms of the transaction were not disclosed.