Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh, a global leader in insurance broking and risk management, today announced that it has acquired The Benefit Planning Group, Inc., a Durham, North Carolina-based employee benefit consulting firm. Terms of the transaction were not disclosed.Founded in 1991, The Benefit Planning Group (BPG) specializes in providing employee benefits and insurance services to the health care community, including medical schools, physicians, and medical practices. All 14 of the firm's employees, including founder Mike Waters, will join MMA's mid-Atlantic region and continue to operate out of BPG's existing Durham, North Carolina, office.
"We are excited to have Mike and his team join the mid-Atlantic region of MMA. BPG brings a diverse skill set in a segment of the market that has the potential for tremendous growth," said Thomas R. Brown, vice chairman of MMA's mid-Atlantic region.
BPG's Mr. Waters commented: "The opportunity to more broadly distribute our proprietary benefits offerings, while also expanding our services to clients through MMA's resources, makes this a winning strategy for everyone."
David Eslick, chairman and CEO of Marsh & McLennan Agency, added: "The Benefit Planning Group is another great example of the high-quality, local talent and expertise we are adding to MMA. I welcome Mike Waters and the rest of the team to the MMA family."
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the US. MMA offers commercial property, casualty, personal lines, and employee benefits to clients across the US.