Marsh buys US broker

Marsh has acquired The NIA Group, the 34th largest independent broker in the country and its New York City office Kornreich-NIA.

The deal is part of a series of strategic acquisitions as Marsh builds a national business to serve the needs of mid-sized companies across the country. Terms of the transaction were not disclosed.

Established in 1926, The NIA Group has annual revenue of $62 million and has offices in New Jersey, New York, Connecticut, and Florida.

Headquartered in Paramus, New Jersey, The NIA Group has approximately 400 employees and provides property and casualty insurance, employee benefits, personal insurance and life insurance / estate planning.

Marsh chairman David Eslick, said: “The addition of The NIA Group and Kornreich-NIA to our firm gives us a strong operation in the New York metropolitan area and Florida. We’re delighted to welcome the leadership team and the employees of The NIA Group and Kornreich-NIA to our firm. They have a well-earned and longstanding reputation for professionalism and service excellence, which we view as essential elements for the national organisation we are building at Marsh & McLennan Agency.”

NIA Group chairman Paul Gross said: “We are pleased to be joining with David and the leadership of Marsh & McLennan Agency and look forward to working as part of the team to create one of the preeminent national organisations in our industry.”