Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Otis-Magie Insurance Agency Inc., a privately owned independent agency headquartered in Duluth, Minnesota.
Terms of the transaction were not disclosed.
With origins dating back to 1886, Otis-Magie provides business insurance, employee benefits, and personal insurance products and services to clients throughout the northern Minnesota region.
Otis-Magie’s 46 employees will continue operating out of their existing locations under the name Otis-Magie, a Marsh & McLennan Agency LLC company. Tom Stender, who has served as chairman and CEO of Otis-Magie since 2011, will continue to lead the operation.
Source: Marsh & McLennan Agency
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
How Insurers Know When It’s Time to Scale AI 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
