Marsh McLennan Agency acquires North Dakota agency

Marsh & McLennan Agency LLC, the middle-market agency subsidiary of Marsh, said Thursday it has acquired Grand Forks, North Dakota-based Vaaler Insurance Inc.

Terms of the transaction were not disclosed.

Founded in 1947, Vaaler provides business, employee health and benefits, and personal lines coverage and specializes in the construction, education and health care industries, Marsh said in a statement.

Vaaler has 81 employees across four offices in Grand Forks, Fargo and Bismarck, North Dakota, and Fosston, Minnesota.

Vaaler CEO Bruce Vaaler will continue to lead operations, Marsh said.

Marsh & McLennan Cos. Inc. was the top-ranked broker in Business Insurance’s most recent listing of leading brokers by 2020 brokerage revenue generated by U.S clients.