Marsh & McLennan Agency L.L.C., Marsh's middle-market agency, said on Friday that it plans to acquire J. Smith Lanier, one of the largest insurance brokerages in the United States. The transaction is expected to be completed in the first quarter of 2017.

        J. Smith Lanier is headquartered in West Point, Georgia. Founded in 1868, it is one of the 100 largest insurance brokerages in the United States as ranked by Business Insurance, with brokerage fee income of US$133 million in 2015 and 21 offices and 600 employees across the United States. According to BI's 2016 broker and agent rankings, its business mix consists of 65.2% retail brokerage, 27.1% employee benefits and 7.4% personal lines.

         Upon completion of the acquisition, J. Smith Lanier will become Marsh's Southwest regional hub and will continue to be led by current CEO D. Gaines Lanier and Chief Operating Officer Gary Ivey.

        In its public statement, Marsh said that J. Smith Lanier is a leader in the U.S. middle insurance market, and that the acquisition will strengthen Marsh's overall capabilities and improve its regional footprint.

Source: Business Insurance 2017-01-14