Marsh has acquired Triton Insurance Agency, a Newport, Rhode Island-based specialist in yacht and marine coverage for high-net-worth individuals, adding coastal expertise to a private client division it has been building through a series of targeted acquisitions.
Triton, led by founder Bob Peck, operates from One Washington Street in Newport. The city functions as one of the most concentrated marine insurance hubs on the US East Coast and is home to several specialist brokers serving the same affluent watercraft market. Peck and the rest of the agency’s team will join Marsh Agency and continue operating from their Newport office. Financial terms were not disclosed.
Triton’s focus on yacht, hull, and related marine coverage for wealthy clients extends a build-out Marsh Agency has been executing acquisition by acquisition. In November 2025, the division acquired Hayden Wood Insurance Agency, a Massachusetts specialist in collector auto and motorsports. In October 2026, it completed the acquisition of Accel Holdings in Iowa, adding agribusiness and personal lines capabilities in the Upper Midwest. Triton extends that build-out into coastal marine, a segment where affluent clients typically carry multiple high-value assets and expect coverage assembled across those risks rather than placed piecemeal.
Demand in the US high-net-worth personal lines market has grown alongside wealth. The US minted more than 440,000 new millionaires in 2025, over 1,200 per day and nearly half of all new millionaires globally, according to the UBS Global Wealth Report 2026. At the same time, admitted carriers have pulled back from high-value personal lines in some coastal states. That growth has also put pressure on placement, as admitted carriers have pulled back from high-value personal lines in some coastal states, shifting more of this business into specialist wholesale and brokerage channels.
Agencies with entrenched client relationships and carrier access in niche coastal markets, like Triton’s position in Newport, hold meaningful competitive advantages that are difficult to replicate without local presence.
Pete Walther, president and CEO of Marsh Agency’s Private Client Services division, said Triton’s marine expertise and client relationships complement the division’s existing culture and capabilities. “Triton strengthens our presence in key coastal markets and helps us deliver more tailored solutions for high-net-worth clients,” he said.
Peck described the deal as an opportunity to extend Triton’s service capabilities. “We look forward to tapping into Marsh Agency’s resources and collaborative, community-focused culture to enhance the way in which we can provide solutions for those we serve,” he said.
Marsh Agency’s private client services division, which won the Best High Net Worth Insurance Broker award at the Private Asset Management (PAM) Awards for the third consecutive year in February 2026, has built its position through accumulated specialist expertise in niche asset classes. Triton extends that reach into coastal marine. The division places multi-carrier coverage across yachts, high-value homes, collections, and excess liability for wealthy clients whose portfolios often span several distinct asset classes and require specialist intermediaries for each.
Independent agencies with deep specialty knowledge and loyal client books in niche coastal and asset-class markets have become consistent acquisition targets for larger platforms. Triton is the latest. As more of those specialists get absorbed, the roster of independent intermediaries available to brokers placing affluent personal lines risks continues to shrink, even as client demand for coverage across yachts, high-value homes, and collections keeps growing.
