Marsh & McLennan Agency Acuires NuWest Insurance Services
Nov 07, 2014
California Agency Marks First Acquisition for MMA West
White Plains, New York, November 7, 2014 – Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh, a global leader in insurance broking and risk management, today announced that it has acquired NuWest Insurance Services Inc., an Irvine, California-based property/casualty agency.
Founded in 1985, NuWest generates approximately $2.4 million in revenue and specializes in providing P/C insurance solutions for multi-employer trust funds and employee unions. NuWest will be consolidated into Barney & Barney, a Marsh & McLennan Agency LLC company’s existing Orange County office. The transaction marks the first acquisition for MMA West, which was established in February via the acquisition of Barney & Barney.
“I am delighted to welcome Chuck Rosenberger and NuWest to MMA and am excited about the opportunity to expand our capabilities and resources to our clients in California,” said Paul Hering, CEO of MMA West.
Chuck Rosenberger, CEO of NuWest, added: “Joining MMA is an excellent opportunity for NuWest to build on its success over the last 29 years. As part of MMA, our clients will now have access to a wider range of products and services to address their emerging and evolving needs.”
Commenting on the transaction, David Eslick, Chairman and CEO of Marsh & McLennan Agency, said: “NuWest is a welcome addition to MMA and the start of what we anticipate will be further expansion of our capabilities and resources in the West region.”
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 US. MMA offers commercial property, casualty, personal lines, and employee benefits to clients across the US.
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 26,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and human capital. With 55,000 employees worldwide and annual revenue exceeding $12 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @MarshGlobal, or on LinkedIn, Facebook, and YouTube.