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Marsh & McLennan Agency L.L.C., a White Plains, New York-based subsidiary of Marsh L.L.C., on Tuesday said it acquired Vézina, a Montreal-based insurance brokerage.
Terms of the transaction were not disclosed, according to a statement from Marsh & McLennan Agency.
The acquisition includes the property/casualty brokerage division Vézina Assurances Inc. and group benefits division Vézina & Associes Inc., the statement said.
The acquisition of Vézina marks Marsh & McLennan Agency's entry into the Canadian market, the statement said.
Vézina serves midsize businesses in Quebec. Its 80 employees will join Marsh & McLennan Agency. Vézina will continue to be led by co-CEOs Pierre and Patrice Vézina, the statement said.
Marsh, a global insurance brokerage and risk management firm, is a wholly owned subsidiary of Marsh & McLennan Cos. Inc., the world's largest insurance broker, according to Business Insurance's latest ranking.
Aon Benfield Group Ltd. on Monday launched a probabilistic flood model for Canada.