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Marsh to buy J. Smith Lanier

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Marsh to buy J. Smith Lanier

Marsh & McLennan Agency L.L.C., the middle-market agency division of Marsh L.L.C., said Friday it has agreed to acquire J. Smith Lanier & Co., one of the largest privately held U.S. insurance brokerages.

Terms of the transaction, which is expected to close in the first quarter of 2017, were not disclosed.

West Point, Georgia-based J. Smith Lanier was ranked 30th in Business Insurance’s latest ranking of the 100 largest brokerages of U.S. business with $132.9 million in 2015 U.S. brokerage revenue. Founded in 1868 it has about 600 employees in 21 offices in the United States.

About 65.2% of its business is retail brokerage, 27.1% employee benefits and 7.4% personal lines, according to BI’s 2016 Agents & Brokers Rankings and Directory.

Upon completion of the transaction, J. Smith Lanier will operate as MMA’s Southeast regional hub under the leadership of its CEO, D. Gaines Lanier, and Gary Ivey, its chief operating officer. Mr. Lanier will report to David Eslick, chairman and CEO of Marsh & McLennan Agency. All of the brokerage’s employees will join MMA, according to a Marsh statement.

“The acquisition of J. Smith Lanier, one of the country’s preeminent middle market insurance agencies, is a terrific addition to MMA’s capabilities and geographic footprint,” said Peter Zaffino, CEO of Marsh in a statement.

 

 

 

 

 

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