Marsh & McLennan Agency makes construction buy

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.