Marsh & McLennan Agency buys Minn.-based insurance agency

BLAINE, Minn.—Marsh & McLennan Agency L.L.C., a subsidiary of New York-based insurance broker Marsh Inc., is acquiring Blaine, Minn.-based Gallagher & Associates Inc.

Terms of the deal were not disclosed.

Gallagher & Associates, a $1 million property/casualty insurance agency specializing in public school districts, will operate within RJF Agencies Inc., a $25 million middle-market insurance broker that MMA acquired in January.

Minneapolis-based RJF has annual revenues of about $25 million and about 150 employees, according to Marsh.

Tom Gallagher, principal and founder of Gallagher & Associates, and the rest of his team will join RJF’s Minneapolis office and continue in their current roles, Marsh said in a statement.

“As part of MMA, our clients will enjoy the same high-quality service they’ve come to expect from us,” Mr. Gallagher said in the statement. “Additionally, they’ll gain new and enhanced capabilities and resources from RJF/MMA to meet their needs.”

David Eslick, chairman and CEO of MMA, said, “Adding high-quality talent and expertise from firms such as Gallagher & Associates is an integral part of Marsh & McLennan Agency’s strategy to build a pre-eminent national agency primarily serving the needs of the middle market.”