Marsh McLennan Agency Acquires New York Firm | Insurance business America
The acquired company was founded in 2012
Insurance News
By Mika Pangilinan
Marsh McLennan Agency (MMA) has acquired AC Risk Management (ACRM), an independent commercial lines broker based in Melville, New York.
Founded in 2012, ACRM provides property and casualty insurance to companies, particularly in the construction sector. All staff, including CEO Matt Avellino, will remain at the company’s current location in Melville as part of the acquisition.
Commenting on the deal, Jerry Alderman, CEO of MMA’s Northeast Region, praised the ACRM team for “their expertise in the commercial sector and their specialization in the construction industry.”
“We look forward to this opportunity to work with businesses in the Long Island community and help them meet their ever-evolving risk mitigation needs,” Alderman added.
ACRM CEO Matt Avellino also commented on the benefits of joining a larger organization and becoming a part of MMA.
“We have always been committed to helping customers understand their risks and prevent claims before they happen,” he said. “As part of the Marsh McLennan Agency, our team will have access to advanced tools and technologies that enable them to provide enhanced client engagement solutions in addition to high-quality professional development resources.”
MMA is a subsidiary of insurance broker and risk advisor Marsh. The company provides business insurance, employee health and benefits, retirement and wealth management, and personal insurance services through 180 offices throughout North America.
The breakthrough for ACRM follows MMA’s recent acquisition of mid-sized agencies Querbes & Nelson (Q&N) and Louisiana Companies.
MMA Chairman and CEO David Eslick spoke to Insurance Business last October and said the company’s M&A pipeline has “never been better.”
“There are still some very large, high quality companies that we continue to engage with,” he said. “Last year we closed more deals than ever before in our history.”
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2024-05-03 11:58:32
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