Insurance Alliance Acquired By Marsh & McClennan Agency
HOUSTON, Texas (November 13, 2009) — BoyarMiller’s Gary Miller, Business Group Chairman, and Forrest Gordon, Business Group Associate, represented Insurance Alliance, one of the largest independent insurance agencies in Texas, and its shareholders in connection with the sale of 100% of the capital stock of the company to Marsh & McLennan Agency LLC. 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. Terms of the transaction were not disclosed.
Established in 1992, Insurance Alliance has annual revenue of $15 million and serves over 1,500 commercial clients located primarily in Texas and throughout the Southwest. The firm has specialist teams serving clients in construction, surety, energy and marine, professional services, general property and casualty, and employee benefits. Headquartered in Houston, Insurance Alliance has 72 employees.
Concurrent with the acquisition, Marsh & McLennan Agency announced the appointment of Woody Woodard as CEO of its new Southwest operation. Woodard had been chairman of Insurance Alliance. In addition, Insurance Alliance executives Jim Berger will be COO and Jim Tomforde will be vice president of sales for the Southwest.