Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., today announced it has acquired Prescott Pailet Benefits LP, a $6 million employee benefits broker based in Dallas. Terms of the transaction were not disclosed.
Formed in 2006 by the combination of Prescott Benefit Services and Pailet Financial Services, PPB offers a diversified mix of health, life, dental and disability products to a wide range of organizations. PPB will operate within MMA's southwest regional hub created by the November 2009 acquisition of Houston-based Insurance Alliance. All of PPB's leadership and employees will join MMA.
"Prescott Pailet Benefits is an excellent addition to Marsh & McLennan Agency and is consistent with our overall strategy to acquire high-quality local talent and expertise to expand the resources available to our clients," says Dave Eslick, chairman and CEO of MMA. "These complementary acquisitions are an essential component of MMA's strategy to become one of our industry's preeminent national firms primarily serving the employee benefit and property and casualty needs of companies across the United States."
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