Marsh McLennan Agency, or MMA, reached an agreement to acquire Accel Holdings Inc., a leading diversified independent insurance and advisory firm headquartered in Waverly, IA, according to a news release from Monday, Aug. 10.MMA, a business of Marsh (NYSE: MRSH), is a leading provider of business insurance, employee services, and private client insurance solutions across the U.S. and Canada.The acquisition is expected to close in the third quarter. Terms of the deal were not disclosed, according to the release.“The...
Marsh McLennan Agency, or MMA, reached an agreement to acquire Accel Holdings Inc., a leading diversified independent insurance and advisory firm headquartered in Waverly, IA, according to a news release from Monday, Aug. 10.
MMA, a business of Marsh (NYSE: MRSH), is a leading provider of business insurance, employee services, and private client insurance solutions across the U.S. and Canada.
The acquisition is expected to close in the third quarter. Terms of the deal were not disclosed, according to the release.
“The Accel Group is one of the industry’s leading firms due to its hands-on service, deep local ties, and proactive approach to managing risk. Combined with MMA’s broader capabilities, we can deliver even more value to the businesses, families, and agricultural organizations that count on Accel and need integrated solutions to grow with confidence,” said David Eslick, CEO of MMA.
Founded in 1936, the Accel Group further established its legacy through a strategic merger with Millhiser Smith Agency in 2018, an agency that itself was founded in 1928. Today, the firm provides commercial and personal insurance, employee benefits and agribusiness solutions, as well as wealth management and retirement advisory services.
The Accel Group operates seven offices across Iowa, Illinois, Missouri and Kansas, including one at 5500 Fountains Drive NE in Cedar Rapids, and has more than 130 employees, all of whom are expected to join MMA from their current locations.
“The Accel Group has a strong reputation because of its talented team and client-first culture. It is an excellent fit for our business and the clients we serve,” said Ryan Watkins, CEO of MMA’s Upper Midwest region, in the release. “In addition to expanding our geographic footprint in Iowa and strengthening our presence in neighboring states, Accel’s retirement and wealth capabilities and extensive agribusiness knowledge will enhance our current offerings and the value we provide to our clients.”
Corey Rekers, president of property and casualty insurance at The Accel Group, added: “MMA’s national platform, global resources, and specialized capabilities build upon the strong foundation Accel has established for nearly 100 years. We’re excited about the future, the opportunity to expand our vision, and the ability to elevate how we serve our clients.”