MMA strides into Canadian market with acquisition
Marsh & McLennan Agency (MMA), a subsidiary of Marsh, has entered the Canadian market with the acquisition of Canadian insurance broker Vézina.
The acquisition includes the property and casualty (P&C) brokerage division Vézina Assurances and group benefits division Vézina & Associes.
Established in 1978, Vézina offers P&C insurance and employee benefits services to midsize businesses and individuals throughout Quebec.
It generates approximately $10 million in revenue and has 80 employees, all of whom are joining MMA. Vézina will continue to be led by co-chief executive officers Pierre and Patrice Vézina.
David Eslick, chairman and chief executive officer (CEO) of MMA, said: "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. 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.”
Pierre Vézina added: “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 specialised expertise to our clients.”
Patrice Vézina said: “We are thrilled to be joining MMA and being on the forefront of its expansion in Canada.”