Marsh & McLennan Agency (MMA) – the middle market agency subsidiary of Marsh – has acquired PayneWest Insurance in Missoula, MT.
Terms of the acquisition were not disclosed.
PayneWest Insurance, founded in 1992, offers business insurance, surety, employee benefits, and personal insurance services to companies and individuals across the Northwest. The agency has 26 offices across the states of Idaho, Montana, Oregon, and Washington.
Following the deal, PayneWest will operate as MMA’s Northwest regional hub, to be led by PayneWest CEO Kyle Lingscheit. Lingscheit will report to MMA chairman and CEO David Eslick. All of PayneWest’s employees – over 700 of them – will join the MMA team and continue to work from their current locations.
“PayneWest represents another key milestone for MMA, further enhancing our geographic footprint and ability to serve midsize businesses and individuals across the US,” said Marsh president and CEO John Doyle. “By attracting high quality firms like PayneWest, MMA over the last 10 years has grown to become the broker-of-choice in this important segment of the US market.”
“Across both the Northwest and the insurance industry, PayneWest is recognized for the quality of their colleagues, their client service, and their commitment to giving back to the community. Attracting high-performing agencies like PayneWest amplifies our reach across the US and will continue to enhance the quality of our client offerings,” commented MMA chairman and CEO David Eslick.
PayneWest CEO Kyle Lingscheit commented that by joining MMA, his team’s clients will now have access to more resources and innovative solutions, and the team’s colleagues will see continued opportunities for growth and personal development.