Marsh McLennan Agency (MMA) has acquired AC Risk Management (ACRM), an independent commercial lines brokerage based in Melville, New York.
Established in 2012, ACRM offers property and casualty insurance to businesses, particularly those within the construction sector. All personnel, including CEO Matt Avellino, will remain at the firm’s current Melville location as part of the acquisition.
Jerry Alderman, CEO of MMA’s Northeast region, commented on the deal, praising the ACRM team for “their commercial line expertise and construction industry specialization.”
“We are looking forward to this opportunity to work with businesses in the Long Island community and help them address their constantly evolving risk mitigation needs,” Alderman added.
Matt Avellino, CEO of ACRM, also commented on the benefits of joining a larger organization and becoming part of MMA.
“We have always been committed to helping clients identify their risks and prevent claims before they happen,” he said. “As part of Marsh McLennan Agency, our team will gain access to advanced tools and technologies, enabling them to provide enhanced solutions for client exposures, in addition to high-quality professional growth resources.”
MMA is a subsidiary of insurance broker and risk advisor Marsh. It provides business insurance, employee health and benefits, retirement and wealth management, and private client insurance services through 180 offices across North America.
The swoop for ACRM follows MMA’s recent acquisition of middle-market agencies Querbes & Nelson (Q&N) and Louisiana Companies.
Both deals allowed MMA to double its market presence in Louisiana, according to an announcement released by the company in March.
MMA chairman and CEO David Eslick spoke to Insurance Business last October and said the firm’s M&A pipeline “has never been better.”
“There’s still some very nice-sized, high-quality firms that we continue to be in contact with,” he said. “Last year, we did more deals than we’ve ever done in our history.”
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