South Carolina insurance and benefits agency joins Rutherfoord group
- September 10, 2012
A Greenville, S.C., insurance and employee benefits agency has joined a group of mid-Atlantic companies led by Virginia-based broker Rutherfoord.
Rutherfoord’s parent company, White Plains, N.Y.-based Marsh & McLennan Agency LLC (MMA), has acquired Rosenfeld Einstein, a firm with annual revenue of $9 million. Terms of the transaction were not disclosed.
Founded in 1933, Rosenfeld Einstein offers a wide range of property/casualty and employee benefit services to clients in the Southeast and mid-Atlantic regions. All of the agency’s 55 employees, including principals Dan Einstein, Howard Einstein, and Nathan Einstein, will join the Marsh & McLennan Agency mid-Atlantic hub led by Rutherfoord.
“With this transaction, we are expanding our market position into South Carolina and enhancing our property/casualty and employee benefit capabilities to better serve the needs of our clients,” Thomas R. Brown, the vice chairman of Rutherfoord/MMA, said in a statement.
Rosenfeld Einstein is the 21st acquisition Marsh & McLennan Agency has completed since November 2009. The company, which targets midsize businesses, generates approximately $380 million in annual revenue.
MMA, founded in 2008, is a subsidiary of New York-based Marsh, a global insurance broker.