Marsh McLennan Agency to acquire Fisher Brown Bottrell Insurance, Inc.
April 23 2024 - 3:30PM
Business Wire
Marsh McLennan Agency, a subsidiary of Marsh, today announced
that it has entered into a definitive agreement to acquire Fisher
Brown Bottrell Insurance, Inc. (FBBINSURANCE) from Trustmark
National Bank. Headquartered in Jackson, Mississippi, FBBINSURANCE
is one of the top five largest bank-affiliated insurance agencies
in the country and one of the largest agencies in the
Southeast.
Founded in 1936, FBBINSURANCE specializes in providing
commercial property/casualty insurance, surety and employee
benefits services to businesses and individuals across the
Southeast. Upon closing, the FBBINSURANCE team, including CEO Scott
Woods, will join Marsh McLennan Agency and continue to operate out
of their existing 10 offices across Mississippi, Alabama, and
Florida.
“FBBINSURANCE’s strong regional presence, client-focused
approach, and terrific leadership were very attractive as we looked
for a high-quality agency to expand our presence in the Southeast,”
said Peter Krause, President & CEO of Marsh McLennan Agency’s
Southeast region. “I look forward to working with Scott and the
entire FBBINSURANCE team in delivering best-in-class solutions that
address the growing risk management and benefit needs of businesses
and individuals in the region.”
Mr. Woods added: “We take great pride in the integrity, service,
and solutions we provide clients on a daily basis. In joining Marsh
McLennan Agency, we will continue delivering the best risk
management strategies for clients’ unique exposures, with enhanced
access to global resources and a remarkable team of colleagues with
which to collaborate.”
Under terms of the agreement, Marsh McLennan Agency will pay
$315.9 million in cash, subject to customary purchase price
adjustments, to acquire FBBINSURANCE. The transaction is pending
regulatory approval and standard closing conditions, and is
expected to close during the second quarter of 2024.
About Marsh McLennan Agency Marsh McLennan Agency
provides business insurance, employee health & benefits,
retirement & wealth, and private client insurance solutions to
organizations and individuals seeking limitless possibilities. With
10,000 colleagues and 180 offices across North America, Marsh
McLennan Agency combines the personalized service model of a local
consultant with the global resources of the world’s leading
professional services firm, Marsh McLennan (NYSE: MMC).
About Marsh Marsh is the world’s leading insurance
broker and risk advisor. With more than 45,000 colleagues advising
clients in over 130 countries, Marsh serves commercial and
individual clients with data-driven risk solutions and advisory
services. Marsh is a business of Marsh McLennan (NYSE: MMC), the
world’s leading professional services firm in the areas of risk,
strategy and people. With annual revenue of $23 billion, Marsh
McLennan helps clients navigate an increasingly dynamic and complex
environment through four market-leading businesses: Marsh, Guy
Carpenter, Mercer and Oliver Wyman. For more information, visit
marsh.com, and follow us on LinkedIn and X.
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Lexie O’Connor Media Relations +1 857 772 0150
alexandra.oconnor@MarshMMA.com
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