Marsh is retooling its effort to target small and midsize businesses around the United States. When it was first announced on November 24, 2008, Marsh planned to become a major player in the small commercial market by aggregating, beginning to operate in some of MMC’s 65 offices in select cities. David L. Eslick, chairman and chief executive, who came aboard in January, said the small commercial incursion will now be built around a model utilizing eight or nine regional “platform” companies around which it will build up the agency’s business infrastructure.
The Marsh plan to aggressively grow Marsh & McLennan Agency by acquiring a large number of smaller agencies and brokerages is part of what Eslick says is a marketplace containing “over 13,000 independent brokerage firms serving the middle-market and smaller business, and accounting for about $30 billion in commission revenue.” But that expansion must wait until the platforms are in place, perhaps by the end of the year, according to Eslick.
Marsh’s Initiative Opts for Aggressive Acquisition Strategy (BestWire 7/27/09)
MMC Sees Big Growth in Smaller-Market Initiative (BestWire 11/24/08)
August 4, 2009