Cook Maran & Associates (Cook Maran), a New York and New Jersey insurance broker and the New York metropolitan area platform for Prime Risk Partners (PRP), has acquired McDermott & Thomas Associates LLC (M&T), a Staten Island, N.Y.-based agency specializing in employee benefits.
M&T’s partners offer more than seven decades of experience advising businesses on customized, cost-effective insurance solutions for human resources.
Following this transaction, M&T employees will continue to work from the agency’s Staten Island location and do business as McDermott & Thomas, joining Cook Maran’s six offices and 250 professionals across New York and New Jersey. In merging with Cook Maran, M&T also broadens the offering of PRP.
Cook Maran Chairman and CEO Len Scioscia noted in a company press release that the M&T partnership strengthens Cook Maran’s portfolio in a critical area during a time when many employers grapple with rising premiums and face uncertainty in the national health insurance market.
“Now more than ever, businesses need help building a competitive benefits package that fits the realities of their bottom line – and explaining the plan to employees,” agreed Patrick McDermott in the release, who co-founded M&T with Mark Thomas in 1987. “That’s been our mission as an agency for the last three decades.”
By merging with Cook Maran, M&T’s founders see new opportunities to pursue their mission while offering clients the same personal service from familiar faces, added McDermott in the release.
Source: Cook Maran & Associates
Topics Mergers & Acquisitions New York
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
Pipeline Explodes at Delfin LNG Planned Project in Louisiana 
