Marsh & McLennan acquires NuWest Insurance
Marsh & McLennan Agency (MMA), a subsidiary of Marsh, has acquired NuWest Insurance Services, a California-based property/casualty (P&C) agency.
Founded in 1985, NuWest generates approximately $2.4 million in revenue and specialises in providing P&C insurance solutions for multi-employer trust funds and employee unions.
NuWest will be consolidated into Barney & Barney, a MMA company’s existing Orange County office.
The transaction marks the first acquisition for MMA West, which was established in February via the acquisition of Barney & Barney.
“I am delighted to welcome Chuck Rosenberger and NuWest to MMA and am excited about the opportunity to expand our capabilities and resources to our clients in California,” said Paul Hering, chief executive officer (CEO) of MMA West.
Chuck Rosenberger, CEO of NuWest, added: “Joining MMA is an excellent opportunity for NuWest to build on its success over the last 29 years. As part of MMA, our clients will now have access to a wider range of products and services to address their emerging and evolving needs.”
David Eslick, chairman and CEO of Marsh & McLennan Agency, said: “NuWest is a welcome addition to MMA and the start of what we anticipate will be further expansion of our capabilities and resources in the West region.”
