Marsh McLennan Agency Acquires AC Risk Management; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Marsh McLennan Agency, a subsidiary of Marsh McLennan Companies (MMC), has acquired AC Risk Management (ACRM), a New York-based commercial lines brokerage specializing in the construction industry. The acquisition aims to enhance Marsh McLennan Agency's commercial line expertise and construction industry services. Financial terms were not disclosed, but the ACRM team, including CEO Matt Avellino, will join Marsh McLennan Agency and continue operating from their Melville office.
May 02, 2024 | 1:12 pm
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Marsh McLennan Companies (MMC) expands its services in the construction industry through its subsidiary's acquisition of AC Risk Management.
The acquisition of AC Risk Management by Marsh McLennan Agency, a subsidiary of MMC, directly impacts MMC by expanding its commercial lines and construction industry services. This strategic move is likely to enhance MMC's market position and service offerings in the insurance sector, potentially leading to positive short-term impacts on its stock price due to the expansion of services and potential for increased market share in the construction insurance sector.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90