Marsh McLennan Agency Acquires Excel Insurance to Expand in South Florida

Marsh McLennan Agency (MMA), a prominent business insurance provider in the US and Canada and a subsidiary of Marsh, has expanded its footprint in South Florida through the acquisition of Excel Insurance, an independent agency based in Medley, Florida. Excel Insurance specializes in property and casualty insurance for small businesses and individuals, with particular expertise in watercraft and motor vehicle protection. The acquisition integrates Excel's team, including President Jacob Pared, into MMA's existing Doral office, enhancing local service capabilities.

This strategic acquisition underscores MMA's commitment to growing its business insurance and employee benefits offerings in the Florida market. By leveraging Excel Insurance's regional expertise and expanding its operational presence, MMA aims to provide clients with broader access to global resources and specialized knowledge. The deal reflects ongoing consolidation trends in the insurance brokerage sector, where firms seek to enhance competitive advantage through targeted acquisitions.

Marsh McLennan Agency is part of Marsh McLennan, a global leader in risk management, strategy, and insurance brokerage, with operations in 130 countries and a workforce exceeding 90,000 professionals. The company’s diversified portfolio includes business insurance, retirement and wealth solutions, and private client insurance services. This acquisition aligns with Marsh McLennan’s strategic growth objectives in the competitive US insurance landscape.

For insurance professionals and stakeholders, the expansion of MMA's capabilities in South Florida enhances market access to specialized property and casualty products and deepens expertise in niche markets such as watercraft insurance. This development may influence regional competitive dynamics and service models, contributing to evolving client expectations and brokerage consolidation.

Overall, the transaction exemplifies the ongoing evolution of insurance distribution channels, with major brokers like Marsh McLennan integrating smaller agencies to strengthen local presence and diversify service offerings. The acquisition highlights the importance of combining regional knowledge with global resources to meet the complex demands of clients in the contemporary insurance environment.