Marsh McLennan Agency (MMA), a subsidiary of insurance broker Marsh, has purchased CS Insurance Strategies for an undisclosed sum.
The company has not disclosed other terms of the deal.
Based in Chicago, CS Insurance Strategies is a minority-owned brokerage firm that offers employee health and benefits, as well as business insurance and risk management consulting services across the US. It serves various industries with special focus on municipal, non-profit, and minority-owned firms.
CS Insurance Strategies was established by the current CEO of the company Charles Smith in 2009.
Smith said: “By joining MMA, our capacity to deliver more competitive strategies and innovative solutions to mid-market clients has increased exponentially.
“In addition, the growth opportunities for our colleagues and dedication to serving the local community will continue to expand.”
With the acquisition, MMA aims to expand its capabilities in the US Midwest region. All ten employees of CS Insurance Strategies will also migrate to MMA.
MMA Midwest region CEO Tony Chimino said: “Over the years, CS Insurance Strategies has grown to be a dynamic and influential organisation under Charles’ leadership.
“The agency’s commitment to helping clients navigate complicated risk and insurance issues very much mirrors our own passion for serving growing businesses.”
Last month, MMA acquired independent insurance agency Clark Insurance to expand its footprint in the New England region of the US.
Based in Portland, Maine, the US, Clark is a full-service agency that serves a range of businesses and individuals operating in the region.