NU Online News Service, July 13, 12:01 p.m. EDT
Marsh & McLennan Agency, a subsidiary of insurance broker Marsh Inc., says it has acquired Prescott Pailet Benefits (PPB), a $6 million employee benefits broker based in Dallas.
Also, Hub International Ltd. says it has acquired the assets of Workplace Benefit Solutions (WBS) a Manchester, N.H.-based employee benefit brokerage and consulting firm.
Formed in 2006 by the combination of Prescott Benefit Services and Pailet Financial Services, PPB offers a diversified mix of health, life, dental, and disability products to a wide range of organizations.
PPB will operate within MMA’s Southwest regional hub created by the acquisition of Houston-based Insurance Alliance in November 2009.
In a statement, Dave Eslick, chairman and chief executive officer of MMA calls the acquisition an “excellent addition” that compliments the firm’s previous acquisitions.
PPB is the 11th acquisition MMA has made since November 2009.
Founded in 2001, Workplace Benefit Solutions is an employee benefits advisory firm that works primarily with mid- to large-size companies throughout New England. WBS builds innovative employee benefits programs for the healthcare industry and public sector, working with several of New England’s largest healthcare providers and various municipalities including unions and government officials of cities and school districts in the region.
WBS will become part of Hub International New England. The employees will remain in their existing office in Manchester. David Larrivee, principal consultant and founder, and Tom DeLacey, principal consultant, will join Hub reporting to Michael S. Chapman, chief sales officer, Hub New England.
Terms of both transactions were not released.
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