Marsh & McLennan Agency Enters Canadian Market With Acquisition of Vézina Assurances Inc. and Vézina & Associés Inc.
07 July 2015 - 11:00PM
Business Wire
Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh,
today announced it has acquired Vézina, a leading independent
insurance brokerage firm in Montreal, Quebec. This acquisition
includes the property/casualty brokerage division Vézina Assurances
Inc. and group benefits division Vézina & Associes. Terms of
the transaction were not disclosed.
Vézina marks MMA’s entry into the Canadian market and reinforces
MMA’s commitment to serving the risk management and insurance needs
of middle market companies throughout the US and now Canada.
"Since embarking on our strategy to build a preeminent middle
market insurance firm, our goal has remained the same: to join
forces with high quality insurance agencies," said David Eslick,
chairman and CEO of MMA. “Vézina’s strong leadership team, mix of
business, and emphasis on customer-centric service make it an ideal
match for us to expand our strategy into Canada.”
Established in 1978, Vézina is a full-service insurance
brokerage firm offering property/casualty insurance and employee
benefits services to midsize businesses and individuals throughout
Quebec. It generates approximately US$10 million in revenue and has
80 employees, all of whom are joining MMA. Vézina will serve as an
MMA platform for future growth in Canada and will continue to be
led by co-CEOs Pierre and Patrice Vézina.
“Joining MMA is the logical next step in Vézina’s evolution as
it enables us to preserve our culture and service model while
offering a wider range of solutions, resources, and specialized
expertise to our clients,” said Pierre Vézina.
Patrice Vézina added: “We are thrilled to be joining MMA and
being on the forefront of its expansion in Canada.”
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC is a subsidiary of Marsh
established in 2008 to serve as a platform for the middle market.
In 2015, it expanded its national footprint into Canada. MMA offers
commercial property, casualty, personal lines, and employee
benefits to midsize businesses and individuals across North
America.
About Marsh
Marsh is a global leader in insurance broking and risk
management. Marsh helps clients succeed by defining, designing, and
delivering innovative industry-specific solutions that help them
effectively manage risk. Marsh’s approximately 27,000 colleagues
work together to serve clients in more than 130 countries. Marsh is
a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:
MMC), a global professional services firm offering clients advice
and solutions in the areas of risk, strategy, and people. With
57,000 colleagues worldwide and annual revenue exceeding US$13
billion, Marsh & McLennan Companies is also the parent company
of Guy Carpenter, a leader in providing risk and reinsurance
intermediary services; Mercer, a leader in talent, health,
retirement, and investment consulting; and Oliver Wyman, a leader
in management consulting. Follow Marsh on Twitter @MarshGlobal, or
on LinkedIn, Facebook and YouTube.
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version on businesswire.com: http://www.businesswire.com/news/home/20150707005819/en/
MarshSally Roberts,
303-952-9453sally.roberts@marsh.comorVézinaFatima Andrade,
514-253-5221fandrade@vezinainc.com
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