Marsh & McLennan Agency Acquires RJF Agencies Inc



Marsh & McLennan Agency Acquires RJF Agencies Inc.

Acquisition Expands MMA’s Reach into Upper Midwest.

NEW YORK (Jan. 5, 2011)—Continuing its strategy to build a national platform, Marsh & McLennan Agency LLC (MMA) , a subsidiary of insurance broker Marsh Inc., announced today the acquisition of RJF Agencies Inc., one of the largest independent insurance agencies in the upper Midwest. Terms of the transaction were not disclosed.

 

Founded in 1986, RJF has annual revenue of approximately $25 million and roughly 150 employees. Headquartered in Minneapolis, RJF provides property and casualty insurance and employee benefits to middle market companies in a wide range of industries. The firm has specialty practices in manufacturing, condominium and townhome associations, management liability, and contractors, among others. All of RJF’s employees and leadership team, including Bill Jeatran, CEO, and Tim Fleming, president, will join MMA.

 

RJF will serve as MMA’s upper Midwest hub and is the latest in a number of acquisitions MMA has made since embarking on its quest to build a national platform primarily to serve the property and casualty insurance and employee benefits needs of the middle market. Most recently, MMA announced the acquisitions of Trion Group Inc., the nation’s largest privately held employee benefits specialist based in Conshohocken, Pennsylvania, and Strategic Benefit Solutions, Inc., a premier benefits brokerage and consulting firm based in Alpharetta, Georgia.

 

Since November 2009, MMA has grown to become the 12th largest insurance agency in the United States with approximately $285 million in annual revenue.

 

“RJF’s strong regional presence, top-notch leadership, sales-oriented culture and blend of property and casualty and employee benefits business were very attractive as we looked for a quality partner to join MMA in the upper Midwest,” said David Eslick , chairman and CEO of MMA. “We welcome the leadership team and the employees of RJF to our firm, and I personally look forward to partnering with Bill Jeatran and Tim Fleming in building MMA.”

 

“Joining Dave Eslick and his team at MMA represents an excellent growth opportunity for RJF, our employees and our clients,” Mr. Jeatran said. “As part of the MMA enterprise, clients and employees can expect continued commitment to the values and collaborative culture that has been a cornerstone of RJF since it began 25 years ago, while also having access to the support and resources of the world’s leading insurance broker and risk advisor.”

Click here to view FAQs on RJF's acquisition .

About RJF Agencies

Founded in 1986, RJF Agencies is one of the “Top 100 Brokers of U.S. Business” according to Business Insurance magazine. Its values-driven approach facilitates growth and strengthens companies by reducing the cost of risk for more than 5,000 corporate clients through five offices in Minnesota and Wisconsin. Its services include employee benefits, commercial insurance, alternative risk programs, loss prevention, claim management, human resource consulting, health management and financial services. In 2009, RJF was awarded the Minnesota Business Ethics Award and it was named a Top Workplace by the Star Tribune in 2010. More information is at .

About Marsh & McLennan Agency

Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the U.S. MMA operates independently from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S. More information is at .

 

About Marsh

Marsh, the world’s leading insurance broker and risk adviser, has over 24,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a member of Marsh & McLennan Companies, a global professional services firm with over 50,000 employees worldwide and annual revenue of $10 billion, which is also the parent company of Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. Its stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges.

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