Marsh has completed its acquisition of Accel Holdings, the parent of Iowa independent broker The Accel Group, bringing the firm into Marsh Agency, its US middle-market brokerage.
Financial terms were not disclosed.
All Accel staff have joined Marsh Agency's Upper Midwest region and will keep working from their current offices. When the deal was first announced in August, Accel had more than 130 employees across seven offices in Iowa, Illinois, Missouri and Kansas.
Accel, based in Waverly, provides commercial and personal insurance, employee benefits and agribusiness cover, as well as wealth management and retirement advisory services. The firm traces its roots to 1936 and expanded through a 2018 merger with Millhiser Smith Agency, which was founded in 1928.
"By bringing together high-quality firms with strong leadership, deep client relationships, and specialized capabilities, we continue to expand a platform designed to serve the middle market at the highest level," said Matt Stadler, president of Marsh Agency.
Marsh said the deal strengthens its presence in Iowa and brings in retirement and wealth capabilities, along with extensive agribusiness knowledge.
Agriculture is becoming a clear theme in Marsh Agency's buying. In April it agreed to acquire Seitz Insurance Agency, based in Sidney, Montana, which specializes in agriculture, crop and energy risks. Accel takes that focus into the heart of the Corn Belt.
The acquisition also closes during a period of leadership change at the unit. Marsh named Stadler chief executive of Marsh Agency from January 1, 2027, and this week it merged its East and Northeast regions under Andrew Neary. According to Marsh, Marsh Agency has acquired more than 100 agencies since 2009 and now generates more than $5 billion in annual revenue.
For independent agencies in Iowa and neighboring states, the deal removes another long-established local firm from the market. It also adds a national competitor with agribusiness expertise in the area. Farm and agribusiness accounts often combine property, equipment, liability, crop exposures and benefits for seasonal and family workforces.
A broker able to bundle those lines with wealth and retirement planning for farm owners has an advantage in competing for larger operations.
For Accel's clients, the deal brings access to Marsh's specialist practices and broader carrier relationships. In rural markets, though, local relationships often matter as much as capability.
Whether Accel's long-standing ties survive integration into a much larger platform is the question local competitors will be watching. Marsh has said Accel's staff will remain in their current offices.
