White Plains, New York, July 7, 2015 – Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh, today announced it has acquired Vézina, a leading independent insurance brokerage firm in Montreal, Quebec. This acquisition includes the property/casualty brokerage division Vézina Assurances Inc. and group benefits division Vézina & Associes. Terms of the transaction were not disclosed.
Vézina marks MMA’s entry into the Canadian market and reinforces MMA’s commitment to serving the risk management and insurance needs of middle market companies throughout the US and now Canada.
"Since embarking on our strategy to build a preeminent middle market insurance firm, our goal has remained the same: to join forces with high quality insurance agencies," said David Eslick, chairman and CEO of MMA. “Vézina’s strong leadership team, mix of business, and emphasis on customer-centric service make it an ideal match for us to expand our strategy into Canada.”
Established in 1978, Vézina is a full-service insurance brokerage firm offering property/casualty insurance and employee benefits services to midsize businesses and individuals throughout Quebec. It generates approximately US$10 million in revenue and has 80 employees, all of whom are joining MMA. Vézina will serve as an MMA platform for future growth in Canada and will continue to be led by co-CEOs Pierre and Patrice Vézina.
“Joining MMA is the logical next step in Vézina’s evolution as it enables us to preserve our culture and service model while offering a wider range of solutions, resources, and specialized expertise to our clients,” said Pierre Vézina.
Patrice Vézina added: “We are thrilled to be joining MMA and being on the forefront of its expansion in Canada.”
Marsh & McLennan Agency enters Canadian market with acquisition of Vézina Assurances Inc. and Vézina & Associés Inc.For further details