Marsh McLennan Agency (MMA) has announced the acquisition of Steinberg & Associates, an independent agency based in Spartanburg, South Carolina. Terms of the transaction were not disclosed.
Founded in 1969, Steinberg & Associates provides employee health and benefits, real estate planning, and private client services to mid-sized businesses and individuals throughout South Carolina, North Carolina, and Georgia.
After the acquisition, Hank Steinberg, President of Steinberg & Associates, and his entire team will join MMA.
“Hank and his team have built a client-centric company that is committed to excellence,” said John Stanchina, CEO of the MMA Mid-Atlantic Region. “Their expertise expands and enhances our personalized client service approach within the region.”
“Participating in MMA is not only an opportunity for our colleagues to grow, but also an opportunity to better support our clients through the vast resources and innovative solutions available through MMA. I want to offer my colleagues the very best in MMA.”
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As a wholly-owned subsidiary of Marsh, this is just the latest in a string of deals by MMA, which also reportedly acquired Clark Insurance, a leading independent insurance agency in Maine, in June. In July, it also acquired CS Insurance Strategies, a full-service insurance agency in Chicago.