Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Insurance Associates, an independent insurance agency that specializes in the construction industry.
Rockville, Maryland-based Insurance Associates was founded in 1956. It provides commercial property & casualty insurance, surety and employee health and benefits solutions across the Mid-Atlantic.
“Joining MMA is an excellent opportunity that allows us to keep and grow our local team while giving us the capabilities of a national platform to build upon our success,” commented Stephen Spencer, president of Insurance Associates.
Spencer and the rest of the firm’s 59 employees will all join MMA and will continue to work out of their current locations in Rockville, Maryland; Laurel, Maryland; Towson, Maryland; and Fairfax, Virginia.
“Insurance Associates is an excellent addition to MMA as it expands our presence into the greater Washington DC region and further enhances our construction capabilities,” said John Stanchina, president and CEO of MMA’s Mid-Atlantic Region.