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Marsh & McLennan (MMC) Arm Buys Heritage Insurance in Kentucky
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Marsh & McLennan Companies, Inc.’s (MMC - Free Report) unit Marsh & McLennan Agency LLC (MMA) recently acquired Heritage Insurance Service, Inc., a market-leading independent agency in Louisville, KY. MMA is the middle market agency unit of Marsh. Other terms of the transaction were kept under wraps.
Heritage Insurance has been catering to the requirements of companies and individuals since 1974 by providing business, auto and home insurance services and solutions. It is an expert in the trucking and transportation industry as well.
With this deal, MMA will be able to gain traction from Heritage Insurance’s expertise in the field. Notably, Heritage Insurance will benefit from the scale and the huge network of MMA that will help its clients grow their respective businesses.
Acquisitions form one of the core growth strategies at Marsh and McLennan. The company made numerous purchases within its different operating units that enabled it to enter new geographical regions, expand within the existing ones, foray into new businesses, develop new segments and specialize within its current businesses. The company’s buyout of JLT in 2019 expanded its capabilities to date. Its Risk and Insurance Services segment completed two acquisitions in the first quarter of 2020.
The company’s constant buyouts poise it well for long-term growth.
There has been a host of acquisitions in the insurance space of late, given significant capital availability. Recently, the company’s peer Arthur J. Gallagher & Co. (AJG - Free Report) also bought North Star Insurance Services and North Star Marine Insurance Services, which marked its 5th buyout in the ongoing quarter. Further, Kemper Corporation (KMPR - Free Report) agreed to acquire American Access Casualty Company and its related captive insurance agency while Brown & Brown, Inc. (BRO - Free Report) announced that its subsidiary bought CoverHound and its wholly-owned unit CyberPolicy.
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Marsh & McLennan (MMC) Arm Buys Heritage Insurance in Kentucky
Marsh & McLennan Companies, Inc.’s (MMC - Free Report) unit Marsh & McLennan Agency LLC (MMA) recently acquired Heritage Insurance Service, Inc., a market-leading independent agency in Louisville, KY. MMA is the middle market agency unit of Marsh. Other terms of the transaction were kept under wraps.
Heritage Insurance has been catering to the requirements of companies and individuals since 1974 by providing business, auto and home insurance services and solutions. It is an expert in the trucking and transportation industry as well.
With this deal, MMA will be able to gain traction from Heritage Insurance’s expertise in the field. Notably, Heritage Insurance will benefit from the scale and the huge network of MMA that will help its clients grow their respective businesses.
Acquisitions form one of the core growth strategies at Marsh and McLennan. The company made numerous purchases within its different operating units that enabled it to enter new geographical regions, expand within the existing ones, foray into new businesses, develop new segments and specialize within its current businesses. The company’s buyout of JLT in 2019 expanded its capabilities to date. Its Risk and Insurance Services segment completed two acquisitions in the first quarter of 2020.
The company’s constant buyouts poise it well for long-term growth.
There has been a host of acquisitions in the insurance space of late, given significant capital availability. Recently, the company’s peer Arthur J. Gallagher & Co. (AJG - Free Report) also bought North Star Insurance Services and North Star Marine Insurance Services, which marked its 5th buyout in the ongoing quarter. Further, Kemper Corporation (KMPR - Free Report) agreed to acquire American Access Casualty Company and its related captive insurance agency while Brown & Brown, Inc. (BRO - Free Report) announced that its subsidiary bought CoverHound and its wholly-owned unit CyberPolicy.
Zacks Rank and Price Performance
Shares of Marsh & McLennan, which currently carries a Zacks Rank #3 (Hold), have gained 8.3% in a year compared with the industry’s growth of 6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>