Marsh McLennan Agency Acquires Excel Insurance  

Marsh McLennan Agency, a provider of insurance services and a subsidiary of insurance broker Marsh, has acquired Excel Insurance, an independent agency.  

Founded in 2020, Medley, FL-based Excel provides property and casualty insurance services to small businesses and individuals located in South Florida. The firm’s specialization includes watercraft and motor vehicle protection. 

The firm also offers commercial insurance for automotive, restaurants, business property, workers’ compensation, contractors, cyber, and professional liability, according to their website. 

Following the acquisition, all four Excel Insurance employees, including Excel’s president, Jacob Pared, will join Marsh McLennan in its existing Doral office, Marsh McLennan confirmed to Connect Money.

“Joining MMA is the next step in our mission to deliver clients the solutions they need to thrive via access to global resources and industry knowledge, while simultaneously deepening the team of local experts available,” Pared said. 

The transaction closed in late June, Marsh McLennan said. Financial terms of the acquisition were not disclosed. 

In February, Mercer, a financial services and consulting firm under Marsh McLennan, penned a deal to purchase SECOR Asset Management, an investment consulting firm catering to pension funds, insurance companies, endowments, and family offices.