Marsh McLennan Agency announced that it has entered into a definitive agreement to acquire Fisher Brown Bottrell Insurance (FBBINSURANCE) from Trustmark National Bank.
Headquartered in Jackson, Mississippi, FBBINSURANCE is one of the top five largest bank-affiliated insurance agencies in the country and one of the largest agencies in the Southeast.
Founded in 1936, FBBINSURANCE specializes in providing commercial property/casualty insurance, surety and employee benefits services to businesses and individuals across the Southeast.
Upon closing, the FBBINSURANCE team, including CEO Scott Woods, will join Marsh McLennan Agency and continue to operate out of their existing 10 offices across Mississippi, Alabama, and Florida.
FBBINSURANCE’s strong regional presence, client-focused approach, and terrific leadership were very attractive as we looked for a high-quality agency to expand our presence in the Southeast
Peter Krause, President & CEO of Marsh McLennan Agency’s Southeast region
“I look forward to working with Scott and the entire FBBINSURANCE team in delivering best-in-class solutions that address the growing risk management and benefit needs of businesses and individuals in the region.”
Mr. Woods added: “In joining Marsh McLennan Agency, we will continue delivering the best risk management strategies for clients’ unique exposures, with enhanced access to global resources and a remarkable team of colleagues with which to collaborate.”
Under terms of the agreement, Marsh McLennan Agency will pay $315.9 million in cash, subject to customary purchase price adjustments, to acquire FBBINSURANCE. The transaction is pending regulatory approval and standard closing conditions, and is expected to close during the second quarter of 2024.
by Yana Keller
