May 3, 2010
Boston Insurance Brokerage Acquired
By Matthew L. Brown
The Bostonian Group Insurance Agency Inc., one of the largest insurance brokerages in New England, has been acquired by New York-based Marsh & McLennan Agency for an undisclosed sum.
The acquisition makes Marsh & McLennan the 12th largest insurance agency in the country, with annual revenue of about $185 million.
The Bostonian Group was established in 1973 and worked in employee and executive benefits, human resources services and retirement services. The firm has 60 employees and about $14 million in annual revenue.
Under terms of the merger, the Bostonian Group will retain its name, and all of its employees will remain with the firm.
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