Acquired agency was established in 2012
Marsh McLennan Company (MMA) has acquired AC Danger Administration (ACRM), an impartial industrial traces brokerage based mostly in Melville, New York.
Established in 2012, ACRM provides property and casualty insurance coverage to companies, notably these throughout the building sector. All personnel, together with CEO Matt Avellino, will stay on the agency’s present Melville location as a part of the acquisition.
Jerry Alderman, CEO of MMA’s Northeast area, commented on the deal, praising the ACRM workforce for “their industrial line experience and building business specialization.”
“We’re wanting ahead to this chance to work with companies within the Lengthy Island neighborhood and assist them handle their continually evolving threat mitigation wants,” Alderman added.
Matt Avellino, CEO of ACRM, additionally commented on the advantages of becoming a member of a bigger group and turning into a part of MMA.
“We’ve got all the time been dedicated to serving to purchasers determine their dangers and forestall claims earlier than they occur,” he stated. “As a part of Marsh McLennan Company, our workforce will acquire entry to superior instruments and applied sciences, enabling them to offer enhanced options for shopper exposures, along with high-quality skilled progress sources.”
MMA is a subsidiary of insurance coverage dealer and threat advisor Marsh. It offers enterprise insurance coverage, worker well being and advantages, retirement and wealth administration, and personal shopper insurance coverage providers via 180 places of work throughout North America.
The swoop for ACRM follows MMA’s current acquisition of middle-market businesses Querbes & Nelson (Q&N) and Louisiana Corporations.
MMA chairman and CEO David Eslick spoke to Insurance coverage Enterprise final October and stated the agency’s M&A pipeline “has by no means been higher.”
“There’s nonetheless some very nice-sized, high-quality corporations that we proceed to keep up a correspondence with,” he stated. “Final yr, we did extra offers than we’ve ever finished in our historical past.”
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