Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., has acquired KSPH, a $5 million revenue employee benefits agency based in Glen Allen, Va. Terms of the transaction were not disclosed.
KSPH says it will operate within Rutherfoord, a Marsh & McLennan Agency company, further expanding Rutherfoord’s Richmond, Va., market position and adding to its employee benefit capabilities. The transaction is the third complementary acquisition for Rutherfoord, which MMA acquired in March 2010 to serve as its mid-Atlantic hub.
KSPH says its leadership and employees will join Rutherfoord/MMA and continue operating out of KSPH’s existing Glen Allen office.
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