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Marsh & McLennan Agency L.L.C. has acquired Dawson Insurance Agency in Fargo, North Dakota, Marsh & McLennan Agency said in a statement Wednesday.
Terms of the transaction were not disclosed.
Dawson Insurance, a 98-year-old family-owned agency established in 1917, provides commercial and personal insurance, surety bonds, safety and loss control programs, and employee benefits services to clients throughout North Dakota and Minnesota with a focus on the construction and real estate industries, said the statement.
It generates $10 million in annual revenue, according to the statement. Dawson’s 58 employees will join Marsh & McLennan Agency’s upper Midwest region, the statement said.
Dawson will continue to operate out of its two existing offices in Fargo as Dawson Insurance, a Marsh & McLennan Agency L.L.C. company, under the existing leadership of Tom Dawson and Dan Armbrust.
“Dawson Insurance’s extensive industry knowledge, history of client innovation, and culture of giving back to the community made it the perfect choice for MMA to enter the North Dakota market,” said David Eslick, MMA chairman and CEO, in the statement
“Our dedicated team here at Dawson, our clients throughout the region, and the companies we represent will benefit greatly from our expanded access to services and expertise,” Tom Dawson, president of Dawson Insurance, said in the statement.
Marsh & McLennan Agency L.L.C. is the middle-market subsidiary of Marsh L.L.C. established in 2008 to serve the needs of the middle market, according to the company.
Mark McGivney has been appointed chief financial officer of Marsh & McLennan Cos. Inc., Marsh & McLennan announced Thursday.