Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh Inc., has acquired Independent Insurance Group Benefits Inc., the employee benefits division of Independent Insurance Group. Terms of the deal were not disclosed.

According to MMA, Independent Insurance Group Benefits, with annual revenue of about $1.4 million, will be folded into Prescott Pailet Benefits, a Marsh & McLennan Agency company. This will further expand the firm’s depth in employee benefits. The transaction marks the first complementary acquisition for Prescott Pailet, which MMA acquired in July 2011.

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