Business Moves

Marsh, Insurance Alliance

New York-based Marsh & McLennan Agency, a subsidiary of insurance mega-broker Marsh Inc., has acquired Insurance Alliance, one of the largest independent insurance agencies in Texas.

Terms of the deal were not disclosed. Marsh said the transaction marks the first of a series of planned strategic acquisitions as Marsh & McLennan Agency builds a national business to serve the needs of small to mid-sized companies across the country.

Houston-based Insurance Alliance has annual revenue of $15 million and more than 1,500 commercial clients located primarily in Texas and throughout the Southwest.

Concurrent with the acquisition, Woody Woodard has been appointed CEO of Marsh & McLennan Agency’s new Southwest operation. Woodard had been chairman of Insurance Alliance. Insurance Alliance executives Jim Berger will be COO and Jim Tomforde will be vice president of sales for the Southwest.

Patterson-McKenna, Bollinger

New Jersey-based Patterson-McKenna Insurance Agency Inc. (PMA) has joined Bollinger Insurance brokerage.

The agency provides commercial, personal and employee benefits insurance services, and includes Private Client Group personal insurance services and a marine division.

In connection with the move, G. Wayne Patterson and Robert F. McKenna, who founded PMA in 1978, will become senior vice presidents with Bollinger.

NIP, RCG

Texas-based risk management, executive compensation and benefits and corporate governance firm, NIP Inc., has acquired Retirement Capital Group (RCG), an executive compensation and benefit plan provider headquartered in San Diego.

RCG was founded in 2002 by William MacDonald and has additional offices in Boston, Los Angeles, Milwaukee, Chicago and Atlanta.

RCG will operate as an additional business unit of NIP. The company will retain its brand, business model and strategic distribution relationships. MacDonald will continue in his position as CEO.

Topics Texas