Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Life Insurance

Marsh Acquires Trion

X
Your article was successfully shared with the contacts you provided.

Marsh & McLennan Agency L.L.C. has acquired Trion Group Inc., a large, privately held employee benefits firm.

Marsh & McLennan Agency, a unit of a brokerage subsidiary of Marsh & McLennan Companies Inc., New York (NYSE:MMC), says it bought Trion, Conshohocken, Pa., to implement a strategy that calls for using acquisitions to build a national benefits and property-casualty insurance operation.

The Trion deal is the sixth Marsh & McLennan Agency has made since November 2009, and the Trion deal has made the agency the 12th largest in the United States, the agency says.

Trion was founded in 1999 and now generates about $74 million in annual revenue from the sale of group life and disability insurance, absence management services, consulting services, benefits administration services, and related products and services, Marsh & McLennan Agency says.

The agency is not saying how much it is paying for Trion, but it says it expects Trion’s four principals — Ed Garno Jr., Ed Garno III, Dave Oberkircher and Chris Veno – and all of Trion’s employees to stay on.

- Allison Bell


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.