Marsh McLennan Agency, a subsidiary of Marsh, acquires Fisher Brown Bottrell Insurance, Inc. from Trustmark National Bank. This is stated in the messages of the SmII
Headquartered in Jackson, Mississippi, FBBINSURANCE is one of the five largest bank-related insurance agencies in the country and one of the largest agencies in the southeast. Founded in 1936, FBBINSURANCE specializes in providing commercial real estate/accident insurance, sureties and employee benefits to businesses and individuals in the Southeast. After the closure, the FBBINSURANCE team, including CEO Scott Woods, will join the Marsh McLennan agency and continue to operate in its existing 10 offices in Mississippi, Alabama and Florida.
Under the terms of the agreement, Marsh McLennan Agency will pay $315.9 million in cash, taking into account the usual purchase price adjustments, for the acquisition of FBBINSURANCE. The transaction is awaiting regulatory approval and standard closing conditions and is expected to close in the second quarter of 2024.
The Marsh McLennan Agency provides solutions for business insurance, employee health and benefits, retirement and welfare, as well as solutions for insurance of private clients by organizations and individuals. The Marsh McLennan agency has 10,000 colleagues and 180 offices throughout North America.
Marsh is the world's leading insurance broker and risk consultant. With more than 45,000 colleagues advising clients in more than 130 countries, Marsh serves commercial and individual clients by offering risk solutions and consulting services. Marsh is the business of Marsh McLennan, the world's leading firm providing professional services in the field of risk, strategy and personnel. With annual revenue of $23 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment with the help of four leading companies in the market: Marsh, Guy Carpenter, Mercer and Oliver Wyman.
