Monday, February 26, 2024

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Marsh McLennan acquires HMS Insurance Associates, group captive capabilities 

Marsh McLennan Agency (MMA), a subsidiary of Marsh, has acquired Maryland-based HMS Insurance Associates, one of the US’s largest independent agencies.

Terms of the acquisition were not disclosed.

John Stanchina, CEO of MMA’s Mid-Atlantic region, said: “The MMA goal has always been to partner with the best firms and together build a unique experience for colleagues and clients.

“With exceptional leadership, client satisfaction, long-term client retention, and decades of profitable growth, we are delighted to bring the HMS team on board.”

Founded in 1943, HMS provides businesses and individuals in the mid-Atlantic with P&C insurance, surety, group captive, and employee benefits.

All of the companies more than 120 employees will join MMA and continue to work out of the Maryland office.

Gary Berger, president and CEO of HMS Insurance Associates, said: “We are excited to join the MMA family given the alignment we share in our approach to customer service, employee engagement, and carrier partnership.

“This is an opportunity to continue to enhance our capabilities and deepen our industry relationships, as well as augment the training and career development resources available to colleagues, in turn equipping them to best meet client needs.”