Marsh McLennan Agency (MMA), a business of Marsh and a provider of business insurance, employee health and benefits, retirement and wealth, and private client insurance solutions, has reached an agreement to acquire Accel Holdings, Inc., a US diversified independent insurance and advisory firm.
Terms of the acquisition, which is expected to close in the third quarter, were not disclosed.
Headquartered in Waverly, Iowa, the Accel Group was founded in 1936, and expanded its reach through a strategic merger with Millhiser Smith Agency in 2018, which itself was founded in 1928.
Today, the firm provides commercial and personal insurance, employee benefits, and agribusiness solutions, as well as wealth management and retirement advisory services.
The Accel Group operates seven offices across Iowa, Illinois, Missouri, and Kansas, and has over 130 employees, all of whom are expected to join MMA from their current locations.
David Eslick, CEO of MMA, commented: “The Accel Group is one of the industry’s leading firms due to its hands-on service, deep local ties, and proactive approach to managing risk. Combined with MMA’s broader capabilities, we can deliver even more value to the businesses, families, and agricultural organizations that count on Accel and need integrated solutions to grow with confidence.”
Ryan Watkins, CEO of MMA’s Upper Midwest region, said: “The Accel Group has a strong reputation because of its talented team and client-first culture. It is an excellent fit for our business and the clients we serve. In addition to expanding our geographic footprint in Iowa and strengthening our presence in neighbouring states, Accel’s retirement and wealth capabilities and extensive agribusiness knowledge will enhance our current offerings and the value we provide to our clients.”
Corey Rekers, President of Property & Casualty Insurance at The Accel Group, added: “MMA’s national platform, global resources, and specialized capabilities build upon the strong foundation Accel has established for nearly 100 years. We’re excited about the future, the opportunity to expand our vision, and the ability to elevate how we serve our clients.”
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