Marsh McLennan Agency acquires New York firm

Marsh McLennan Agency (MMA) has got AC Risk Management (ACRM), an impartial business strains brokerage primarily based in Melville, New York.

Established in 2012, ACRM gives assets and casualty insurance coverage to companies, specifically the ones inside the development sector. All group of workers, together with CEO Matt Avellino, will stay on the firm’s present Melville location as a part of the purchase.

Jerry Alderman, CEO of MMA’s Northeast area, commented at the deal, praising the ACRM staff for “their commercial line expertise and construction industry specialization.”

“We are looking forward to this opportunity to work with businesses in the Long Island community and help them address their constantly evolving risk mitigation needs,” Alderman added.

Matt Avellino, CEO of ACRM, additionally commented on the advantages of becoming a member of a bigger group and changing into a part of MMA.

“We have always been committed to helping clients identify their risks and prevent claims before they happen,” he mentioned. “As part of Marsh McLennan Agency, our team will gain access to advanced tools and technologies, enabling them to provide enhanced solutions for client exposures, in addition to high-quality professional growth resources.”

MMA is a subsidiary of insurance coverage dealer and possibility consultant Marsh. It supplies trade insurance coverage, worker well being and advantages, retirement and wealth control, and personal shopper insurance coverage products and services thru 180 workplaces throughout North America. 

The swoop for ACRM follows MMA’s fresh acquisition of middle-market companies Querbes & Nelson (Q&N) and Louisiana Companies.

MMA chairman and CEO David Eslick spoke to Insurance Business ultimate October and mentioned the firm’s M&A pipeline “has never been better.”

“There’s still some very nice-sized, high-quality firms that we continue to be in contact with,” he mentioned. “Last year, we did more deals than we’ve ever done in our history.”

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