Marsh & McLennan Agency makes Texas energy buy

Marsh & McLennan Agency LLC, the middle-market subsidiary of Marsh LLC, on Wednesday said it has acquired Insource Insurance Group LLC, an Odessa, Texas-based agency that specializes in coverage for oil and gas companies.

Terms of the transaction were not disclosed.

InSource Insurance Group’s 45 employees across its offices in Midland and Odessa will join MMA and help lead the Southwest region’s energy industry vertical.

Formed in 1986, InSource Insurance Group provides business insurance, employee benefits, private client and surety services to the oil and gas, construction, manufacturing and transportation industries.

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.