Yahoo Finance Marsh & McLennan's (MMC) Affiliate Acquires Vero Insurance
Marsh & McLennan Agency LLC (“MMA”), a wholly owned subsidiary of Marsh & McLennan Companies Inc. MMC, recently announced that it has acquired Vero Insurance, Inc. The terms of the transaction were not undisclosed.
The acquisition of Vero Insurance by MMA is slated to benefit both the parties. Vero Insurance is renowned for its exceptional insurance products and signature personal service to high net worth individuals, families, and small businesses. The Vero Beach, FL-based insurer, which has been in business for more than 50 years, has built its goodwill mainly through its fairness and integrity. Post acquisition, all of Vero Insurance’s 24 employees will join MMA but continue to work from their existing office.
MMA expects its capabilities to be further enhanced through the buyout. Vero Insurance’s access to the top rated carriers in the U.S. will enable the acquirer to better serve its customers.
On the other hand, Vero Insurance will gain from MMA’s access to the broad resources and solutions of all Marsh & McLennan subsidiaries.
MMA is solely engaged in serving the risk prevention and insurance needs of middle market companies in the U.S.
Marsh & McLennan boasts a strong inorganic growth story. Since 2009, the company has completed a total of 116 acquisitions in order to enhance the scale and size of its business. We believe that the acquisition of Vero Insurance will further enhanced the company’s potential for long-term growth.
MARSH &MCLENNAN Price
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Zacks Rank
Marsh & McLennanhas a Zacks Rank #3 (Hold).
Some better-ranked stocks from the finance sector include Equifax Inc. EFX, MasterCard Incorporated MA and National Interstate Corporation NATL.
National Interstate, a specialty property and casualty insurer, saw the Zacks Consensus earnings estimate increasing 7.6% and 7.3% for 2016 and 2017, respectively, over the last 60 days. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Equifax, a financial transaction services provider, witnessed its Zacks Consensus earnings estimate inch up 0.4% and 0.2% for 2016 and 2017, respectively, over the last 60 days. The company holds a Zacks Rank #2 (Buy).
MasterCard, another financial transaction services provider, saw its Zacks Consensus Estimate inch up 0.8% and 0.9% for 2016 and 2017, respectively, over the last 60 days. The insurer has a Zacks Rank #2.
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