Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has signed a definitive agreement to acquire West Point, Ga.-based J. Smith Lanier & Co., one of the nation’s largest, privately held insurance brokerage firms.
Terms of the transaction, which is expected to close in the first quarter of 2017 pending customary approvals, were not disclosed.
Upon completion of the transaction, JSL will operate as MMA’s Southeast regional hub under the leadership of J. Smith Lanier’s chief executive, D. Gaines Lanier, and chief operating officer, Gary Ivey. Lanier will report to David Eslick, chairman and CEO of Marsh & McLennan Agency. All of JSL’s employees will join MMA.
Founded in 1868, J. Smith Lanier is a provider of insurance, risk management, and employee benefits solutions to businesses and individuals throughout the U.S. J. Smith Lanier has total annual revenue of approximately $130 million and 600 employees in 21 offices across Georgia, Alabama, Kentucky, Tennessee, and Florida.
J. Smith Lanier ranked No. 21 on Ãå±±ÂÖ¼é’s Top 100 Independent Agencies list in 2016, a list that ranks firms by total property/casualty agency revenue for 2015 and includes only those agencies whose business is primarily retail, not wholesale.
Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. In 2015, it expanded its national footprint into Canada. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
Source: Marsh
Topics Mergers & Acquisitions Agencies
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