Marsh McLennan Agency, a subsidiary of Marsh, has acquired AC Risk Management (ACRM), an independent commercial lines brokerage based in Melville, New York.
Established in 2012, ACRM essentially offers property & casualty insurance to businesses in the region, with a particular focus on the construction industry.
According to the announcement, all ACRM employees, which includes its CEO Matt Avellino, will continue working out of their existing Melville office.
Terms of the acquisition were not disclosed.
Jerry Alderman, CEO of Marsh McLennan Agency’s Northeast region, commented: “With their commercial line expertise and construction industry specialization, the ACRM team will be a great addition to Marsh McLennan Agency. We are looking forward to this opportunity to work with businesses in the Long Island community and help them address their constantly evolving risk mitigation needs.”
Avellino, also commented: “We have always been committed to helping clients identify their risks and prevent claims before they happen. As part of Marsh McLennan Agency, our team will gain access to advanced tools and technologies, enabling them to provide enhanced solutions for client exposures, in addition to high-quality professional growth resources.”
Meanwhile, Marsh McLennan Agency recently entered into a definitive agreement to acquire Fisher Brown Bottrell Insurance, Inc. (FBBINSURANCE) from Trustmark National Bank.
