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Marsh & McLennan Agency Acquires Haake Companies, One of Largest Independent Agencies in the Midwest
February 02, 2010
Building of National Business Continues
NEW YORK--(BUSINESS WIRE)--As it continues to build a national business to serve the needs of middle market companies, Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., today announced it has acquired Haake Companies, one of the largest independent insurance agencies in the Midwest. Terms of the transaction were not disclosed.
"The addition of Haake Companies to our firm expands our reach into a growing Midwest market with an established organization and highly regarded team of professionals."
Established in 1926, Haake Companies has annual revenue of $11 million and 70 employees. Headquartered in Overland Park, Kansas, Haake Companies provides property and casualty insurance, risk control services, and employee benefits to corporations in a wide range of industries, as well as personal insurance. The firm has specialty practices in manufacturing, health care/life sciences, hospitality, environmental liability, and alternative risk.
David Eslick, chairman and CEO of Marsh & McLennan Agency, said, "The addition of Haake Companies to our firm expands our reach into a growing Midwest market with an established organization and highly regarded team of professionals."
Charles G. Haake, chairman of Haake Companies, said, "We are pleased to be joining with David and the leadership of Marsh & McLennan Agency and look forward to working with him and his team to create one of the preeminent national organizations in our industry."
In October 2008, Marsh established Marsh & McLennan Agency to be one of the premiere insurance agencies in the United States, offering commercial property and casualty, personal lines, employee benefits and life insurance/estate planning to clients across the U.S.; Mr. Eslick joined the firm at the start of 2009 with a track record of success in building national insurance agencies in the same manner. In the last quarter of 2009, Marsh & McLennan Agency acquired The NIA Group, LLC, one of the largest independent insurance agencies in the New York metropolitan area and Insurance Alliance, one of the largest independent insurance agencies in the Southwest.
About Haake Companies:
Headquartered in Overland Park, Kansas, Haake Companies has annual revenue of $11 million and 70 employees. As a full-service insurance agency, Haake Companies provides commercial property and casualty insurance, employee benefits, and personal insurance. For more information about Haake Companies, visit www.haakeins.com.
About Marsh & McLennan Agency LLC:
Marsh & McLennan Agency LLC, a subsidiary of Marsh Inc., the world's leading insurance broker and risk advisor, was established in 2008 to meet the needs of mid-sized businesses in the U.S. The firm will operate independently from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.
Marsh Inc. has over 23,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with approximately 52,000 employees and annual revenue of $11 billion. MMC also is the parent company of Guy Carpenter, the risk and reinsurance specialist; Kroll, the risk consulting firm; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. MMC's stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC's Web Site is www.mmc.com. Marsh's Web site is www.marsh.com.
For Marsh & McLennan Agency LLC
Al Modugno, 212-345-2448
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