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.
