Hayden Wood Insurance Agency in Southborough, a firm with a specialty in insuring collector cars and motorsport vehicles, has been acquired by New York-based financial firm Marsh McLennan Agency.
The transaction will see all Hayden Wood employees become employees of MMA and continue working out of the firm’s Southborough office, including President and Owner Morgan Duffy, according to a press release issued by MMA on Monday. In addition to the firm’s focus on high-end cars, it offers business, travel, and personal insurance, according to its website.
“We are proud of the trust that our clients put in us to protect their valuable assets,” Duffy said in the press release. “We do not take lightly the responsibility we have to provide them with the best service possible. Joining MMA will enable our team to refine the expertise and outcomes we’re able to deliver in today’s evolving personal lines insurance market.”
MMA is a subsidiary of global insurance broking and risk management firm Marsh.
Terms of the transaction were not disclosed.
“Not only are the needs of our high-net-worth clients unique, but even more so for each individual asset they need protected,” Pete Walther, president and CEO of MMA’s Private Client Services division, said in the press release. “Hayden Wood brings a wealth of expertise and a deep-rooted passion for motorsports, which will enable us to engage meaningfully with clients and deliver tailored solutions that protect the unique assets and passions they value most.”
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
