WHEN DID FBBINSURANCE ENTER INTO A DEFINITIVE AGREEMENT TO BE ACQUIRED BY MARSH MCLENNAN AGENCY (MMA)?

April 23, 2024

WHEN IS THE ANTICIPATED CLOSING DATE?

The transaction is anticipated to close by the end of Q2, 2024.

WHY DID MARSH MCLENNAN AGENCY SELECT FBBINSURANCE?

MMA was looking for a prominent middle-market firm to strengthen its presence in Mississippi, Alabama, and Florida and was drawn to our strong regional presence, client-centric focus, and extensive experience with diverse industries and companies of all sizes.

WHO IS MARSH MCLENNAN AGENCY?

MMA was created in 2008 as a separate operating subsidiary of Marsh LLC, the world’s leading global insurance broker and risk management advisor. MMA originated out of a need to serve the property & casualty, employee benefits, private client, and retirement services needs of the middle market. Since November 2009, MMA has been building its national platform by strategically partnering with high quality insurance and consulting firms across the country.

Marsh, along with Guy Carpenter, Mercer, and Oliver Wyman, are all subsidiaries of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy, and people. MMA has access to broad resources and solutions across all its sister companies under the March McLennan banner. In total, Marsh McLennan has 83,000 colleagues globally, revenues of almost $20B and is a Fortune 250 company.

HOW LARGE IS MARSH MCLENNAN AGENCY AND WHERE ARE THEIR OFFICES LOCATED?

MMA’s national footprint includes over 180 offices and more than 10,000 colleagues. To date, there have been more than 100+ acquisitions and the company has grown to $3B in revenue. MMA is the 10th largest broker in the US… and growing.

WHAT ARE THE ADVANTAGES OF BEING PART OF MARSH MCLENNAN AGENCY?

Joining MMA allows FBBINSURANCE to keep its leadership, service model and culture in place, while adding the support and resources of the world’s leading insurance broker and risk management advisor.

For clients, joining MMA enables us to preserve and strengthen our commitment to clients while offering a wider range of solutions, more specialized expertise, and more resources to invest in technology and people.

For our team, there will be additional opportunities for career advancement and professional development as we utilize MMA’s training programs, technology, and tools to complement many of the programs we have in place today. We will also have the opportunity to collaborate with our national network of peers and thought leaders.

WHAT ROLE WILL FBBINSURANCE PLAY AT MARSH MCLENNAN AGENCY?

FBBINSURANCE will expand MMA’s reach within the Southeast region, most notably in Mississippi and the Florida Panhandle, as well as Alabama. We will continue our focus on growing operations in our 10 locations while also collaborating with other MMA agencies across the country on new business opportunities and sharing best practices.

WILL ANY JOBS BE LOST AS A RESULT OF THIS TRANSACTION?

We expect no changes to our current operating structure or service teams. Clients, carriers, and community partners can continue to work with their FBBINSURANCE points of contact as they have in the past. No contact information will change.

WHERE CAN I FIND OUT MORE ABOUT MARSH MCLENNAN AGENCY?

www.marshmma.com