Marsh McLennan Agency to buy Iowa's Accel Group, adding 130 staff
What's the deal? Marsh McLennan Agency (MMA)Dealroom has a profile for this one. Try Dealroom →, a business of MarshDealroom has a profile for this one. Try Dealroom → (NYSE: MRSH), has agreed to acquire Accel Holdings, Inc.Dealroom has a profile for this one. Try Dealroom →, an independent insurance and advisory firm based in Waverly, Iowa. Terms were not disclosed. The deal is expected to close in the third quarter.
Who is Accel? Founded in 1936, The Accel GroupDealroom has a profile for this one. Try Dealroom → offers commercial and personal insurance, employee benefits, and agribusiness solutions, plus wealth management and retirement advisory services. It runs seven offices across Iowa, Illinois, Missouri, and Kansas, with more than 130 employees. All are expected to join MMA from their current locations.
What's the endgame? The acquisition expands MMA's footprint in Iowa and neighbouring states. It also adds Accel's retirement, wealth, and agribusiness expertise to MMA's offerings. "Accel's retirement and wealth capabilities and extensive agribusiness knowledge will enhance our current offerings and the value we provide to our clients," said Ryan Watkins, chief executive officer of MMA's Upper Midwest region.
What each side brings. MMA sells business insurance, health and benefits, retirement, and private client solutions across the US and Canada. Accel gains access to a national platform. "MMA's national platform, global resources, and specialized capabilities build upon the strong foundation Accel has established for nearly 100 years," said Corey Rekers, president of property and casualty insurance at The Accel Group.
The signal: Marsh, the parent, reports annual revenue of $27 billion and more than 95,000 colleagues across 130 countries. Bolting on regional independents like Accel is how large brokers deepen local ties while scaling specialised services such as agribusiness and wealth advisory.
Read more: AP News
Image credit: Ron Cogswell
