Marsh & McLennan Agency L.L.C. has added another spoke to the wheel.
Marsh & McLennan Agency, a unit of a brokerage subsidiary of Marsh & McLennan Companies Inc., New York (NYSE:MMC), says it has acquired RJF Agencies Inc., Minneapolis.
RJF was founded in 1986 and now has about 150 employees and $25 million in annual revenue. It sells employee benefits and property-casualty insurers to midsize companies.
The price of the deal was not available, but Marsh & McLennan says it will be keeping Bill Jeatran, the RJF chief executive, and Tim Fleming, the RJF president, as well as the other RJF employees.
Marsh & McLennan has talked about using acquisitions to “add the spokes” needed to create a national distribution network. The company recently completed acquisitions of two benefits brokers — Strategic Benefit Solutions Inc., Alpharetta, Ga., and Trion Group Inc., Conshohocken, Pa.