NIA ranked as the 34th-largest brokerage of U.S. business in 2009, based on brokerage revenues of $69.7 million. It operates as a retail agent and broker and places commercial and personal property/casualty coverages, as well as, employee benefit programs.
NIA was founded by a general contractor in 1926. NIA Chairman Paul Gross, the grandson of founder Bernat Nelson, built NIA through acquisitions and the opening of branch offices. In 1994, NIA made its largest acquisition when it bought a majority interest in New York-based Kornreich Insurance Services.
Marsh & McLennan Agency said it has acquired NIA Group as well as the New York operations of Kornreich-NIA.
The announcement is the latest in a string of deal activity for New York-based Marsh & McLennan Cos. Inc.
Marsh Inc. proclaimed Dec. 18 it would acquire London-based HSBC Insurance Brokers Ltd., expanding Marsh's footprint in the United Kingdom, Middle East and Asia.
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