The middle market agency subsidiary of Marsh, Marsh & McLennan Agency (MMA) has declared the acquisition of PayneWest Insurance of Missoula, Mt. Terms of this acquisition were not revealed.
PayneWest Insurance was founded in 1992 and provides services like business insurance, employee benefits, surety, and personal insurance to individuals and companies in NorthWest. The agency also has 26 firms across Montana, Washington, Oregon, And Idaho.
According to the deal, PayneWest will operate MMA’S Northwest firm, which will be led by Kyle Lingscheit, CEO of PayneWest. All of PayneWest’s employees will merge with MMA’s team and will continue to work from their current locations.
“PayneWest represents a major achievement for MMA, which will help us to enhance our geographic footmark and ability to serve SMEs and individuals throughout the US. MMA has grown over the last 10 years to become broker-of-choice in the US market by attracting prime firms like PayneWest.” Said John Doyle president and CEO of Marsh. David Eslick Chairman and CEO of MMA remarked, “Across the insurance industry and the northwest market, Paynewest is known for their customer service, quality of their colleagues, and their commitment to giving back to the community. By attracting prime firms like PayneWest will enhance our reach across the US.”