Marsh McLennan Agency (MMA) has announced its acquisition of the Spartanburg, SC-based independent agency Steinberg & Associates, Inc. The terms of the transaction were not disclosed.
Established in 1969, Steinberg & Associates provides employee health and benefits, estate planning, and private client services to midsize businesses and individuals throughout South and North Carolina, as well as Georgia.
Following the acquisition, Steinberg & Associates president Hank Steinberg and his entire team will join MMA.
“Hank and his team have built a client-focused firm committed to excellence,” said MMA Mid-Atlantic region CEO John Stanchina. “Their expertise expands and enhances our personalized client service approach within the region.”
“Joining MMA is an opportunity for us to not only provide growth opportunities for our colleagues but also to better support our clients through the vast resources and innovative solutions available through MMA,” said Hank Steinberg. “We’re eager to bring the best of MMA to our clients and our colleagues.”
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As a wholly-owned subsidiary of Marsh, this is just the most recent in a string of deals by MMA, which also reported its acquisition of Clark Insurance, a leading independent insurance agency in Maine, in June; and CS Insurance Strategies, a full-service insurance agency in Chicago, in July.
