By Michael P. Tremoglie
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of
Marsh, announced recently the acquisition of
Cline Wood Agency (Cline). This is on the heels of the July 6 acquisition of St Louis, Missouri-based
JW Terrill, a large Midwest independent agency.
Founded in 1984, Cline Wood is located in suburban Kansas City. It is an independent specialty insurance agency specializing in providing property/casualty insurance and risk management and safety services to the commercial transportation and agribusiness industries. Cline generates $15 million in annual revenues. They have 73 employees in Leawood, Kansas; Arlington, Texas; and St Louis, Missouri.
Founders John Cline and Mike Wood and CEO Carol Barnett will become a part of MMA’s upper Midwest region.
“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.”
Cline Wood’s Ms. 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.”
Last month MMA grew its national footprint into Missouri by buying Terrill. MMA says the buying spree reinforces its commitment to build one of the nation’s preeminent insurance agencies for middle market companies.
