MMA acquires insurance agency

Marsh & McLennan Agency (MMA), the middle market agency subsidiary of Marsh, has acquired Kansas City-based independent specialty insurance agency Cline Wood Agency.

Founded in 1984, the agency specialises in providing property/casualty insurance and risk management and safety services to clients operating within the commercial transportation and agribusiness industries.

Cline Wood generates $15 million in annual revenues and has 73 employees who operate out of three offices in Kansas, Texas and Missouri.

All of Cline Wood’s employees and leadership, including founders John Cline and Mike Wood and chief executive officer (CEO) Carol Barnett, will join MMA’s upper Midwest region, which is under the leadership of regional CEO Bill Jeatran.

“Cline Wood’s leadership in transportation and agribusiness was very appealing to us as we continue building our expertise in a variety of industry segments,” said David Eslick, MMA chairman and CEO. “The team, culture, and leaders that John Cline, Mike Wood, and Carol Barnett have assembled will be a great fit with the rest of MMA.”

Barnett added: “Joining MMA gives Cline Wood a unique opportunity to bring more resources to our clients throughout the country, including offering new lines of services such as employee benefits. We’re excited to begin working with the great people across MMA in this endeavour while maintaining our culture, which has gotten us to where we are today.”