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Marsh & McLennan Agency L.L.C. said Monday it has acquired Rockville, Maryland-based Insurance Associates Inc., an agency that specializes in the construction industry.
Terms of the transaction were not disclosed, Marsh & McLennan Agency said in a statement.
Founded in 1956, Insurance Associates has four offices in Rockville, Laurel and Towson, Maryland, and Fairfax, Virginia, and 59 employees, all of whom will join Marsh & McLennan Agency and continue to work out of their current locations.
Marsh & McLennan Agency is a subsidiary of Marsh L.L.C., the commercial brokerage unit of Marsh & McLennan Cos. Inc.
Marsh & McLennan Cos. Inc. is the world’s largest insurance brokerage, according to Business Insurance’s latest ranking.
Marsh & McLennan Agency L.L.C., the middle-market agency subsidiary of Marsh L.L.C., has acquired Blakestad Inc., an independent insurance agency based in Minneapolis.