Marsh & McLennan Agency acquires The Bond Network
New York, NY | Woensdag, 05 Februari 2014
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh LLC, today announced the acquisition of The Bond Network, a leading surety bonding agency based in Charlotte, North Carolina. Terms of the transaction were not disclosed.
Founded in 1985 by H. Thomas Dawkins, The Bond Network generates USD 1.1 million in annual revenue and offers commercial, contract, and special risk surety bonds to private contractors throughout The Carolinas. Mr. Dawkins and the rest of the agency will operate out of MMA’s mid-Atlantic region.
“The Bond Network is a well-known and respected surety specialist in The Carolinas and is an excellent addition to MMA’s mid-Atlantic region as it further strengthens our considerable construction capabilities,” said Thomas R. Brown, vice chairman of Rutherfoord, a Marsh & McLennan Agency LLC company. “I am thrilled to welcome Tom and his team to MMA.”
Mr. Dawkins said: “Joining MMA is an excellent opportunity for The Bond Network to build upon its success over the last 28 years. With the resources that MMA brings to bear, our clients now have a wider range of products and services that address their emerging needs. We look forward to enhancing our commitment to the construction industry.”
David Eslick, Chairman and CEO of Marsh & McLennan Agency, said: “Adding local talent and expertise to complement and expand the resources available to our clients is an essential component of our strategy to become one of our nation’s preeminent national businesses. We welcome Tom Dawkins and The Bond Network to Marsh & McLennan Agency.”
About Marsh
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.