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Marsh & McLennan (MMC) Unit Buys HMS Insurance in Maryland
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Marsh & McLennan Companies, Inc.’s (MMC - Free Report) business Marsh recently acquired HMS Insurance Associates, Inc. through its subsidiary Marsh McLennan Agency or MMA. The acquiree, located in Hunt Valley, MD, is one of the biggest independent agencies in the country.
MMA is expected to gain vastly from HMS Insurance’s robust experience in property and casualty insurance, group captive, employee benefits and surety operations. The acquiree was founded in 1943 and serves both businesses and individuals in the Mid-Atlantic region. The financial terms of the deal are yet to be disclosed.
Per the deal, all employees (above 120) of HMS Insurance are expected to join MMA and continue working from the Hunt Valley office. The move is likely to boost Marsh McLennan Agency’s footprint in the region. It boasts 170 offices across North America. The acquisition is expected to result in resource expansion and enhance the service capabilities of the combined unit.
Last month, MMA acquired McDonald Zaring Insurance, a full-service agency in Walla Walla, WA, in a similar fashion. Acquisitions form one of the core growth strategies at Marsh & McLennan.
Numerous purchases within its different operating units enable it to enter new geographical regions, expand within the existing ones, foray into new businesses, develop new segments and specialize within its existing businesses. MMC spent $213 million on acquisitions in the first nine months of 2022. Moves like this will poise the company well for long-term growth.
Price Performance
Shares of Marsh & McLennan have climbed 2.7% in the past year compared with the industry’s 1.2% increase.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Marsh & McLennan currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader finance space are CI Financial Corp. , MGIC Investment Corporation (MTG - Free Report) and Aegon N.V. (AEG - Free Report) . While CI Financial sports a Zacks Rank #1 (Strong Buy) at the moment, MGIC Investment and Aegon have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Based in Toronto, CI Financial is a leading asset management holding company. The Zacks Consensus Estimate for CIXX’s 2023 earnings indicates an 11.9% year-over-year increase.
Headquartered in Milwaukee, WI, MGIC Investment provides private mortgage insurance and other products in the domestic markets and internationally. The Zacks Consensus Estimate for MTG’s 2022 earnings indicates a 49.7% increase from the prior-year reported number.
Based in The Hague, the Netherlands, Aegon is an insurance, pensions and asset management services provider. The Zacks Consensus Estimate for AEG’s 2022 bottom line has improved 128.6% in the past 60 days.
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Marsh & McLennan (MMC) Unit Buys HMS Insurance in Maryland
Marsh & McLennan Companies, Inc.’s (MMC - Free Report) business Marsh recently acquired HMS Insurance Associates, Inc. through its subsidiary Marsh McLennan Agency or MMA. The acquiree, located in Hunt Valley, MD, is one of the biggest independent agencies in the country.
MMA is expected to gain vastly from HMS Insurance’s robust experience in property and casualty insurance, group captive, employee benefits and surety operations. The acquiree was founded in 1943 and serves both businesses and individuals in the Mid-Atlantic region. The financial terms of the deal are yet to be disclosed.
Per the deal, all employees (above 120) of HMS Insurance are expected to join MMA and continue working from the Hunt Valley office. The move is likely to boost Marsh McLennan Agency’s footprint in the region. It boasts 170 offices across North America. The acquisition is expected to result in resource expansion and enhance the service capabilities of the combined unit.
Last month, MMA acquired McDonald Zaring Insurance, a full-service agency in Walla Walla, WA, in a similar fashion. Acquisitions form one of the core growth strategies at Marsh & McLennan.
Numerous purchases within its different operating units enable it to enter new geographical regions, expand within the existing ones, foray into new businesses, develop new segments and specialize within its existing businesses. MMC spent $213 million on acquisitions in the first nine months of 2022. Moves like this will poise the company well for long-term growth.
Price Performance
Shares of Marsh & McLennan have climbed 2.7% in the past year compared with the industry’s 1.2% increase.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Marsh & McLennan currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader finance space are CI Financial Corp. , MGIC Investment Corporation (MTG - Free Report) and Aegon N.V. (AEG - Free Report) . While CI Financial sports a Zacks Rank #1 (Strong Buy) at the moment, MGIC Investment and Aegon have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Based in Toronto, CI Financial is a leading asset management holding company. The Zacks Consensus Estimate for CIXX’s 2023 earnings indicates an 11.9% year-over-year increase.
Headquartered in Milwaukee, WI, MGIC Investment provides private mortgage insurance and other products in the domestic markets and internationally. The Zacks Consensus Estimate for MTG’s 2022 earnings indicates a 49.7% increase from the prior-year reported number.
Based in The Hague, the Netherlands, Aegon is an insurance, pensions and asset management services provider. The Zacks Consensus Estimate for AEG’s 2022 bottom line has improved 128.6% in the past 60 days.