[Above: Jack Puckett, William Boswell and Karen Cooper of Capstone Insurance Services, LLC.]
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh LLC, today announced it has acquired Capstone Insurance Services LLC, a $1.8 million revenue agency based in Greenville. Terms of the transaction were not disclosed.
Founded in 1995, Capstone Insurance provides property/casualty insurance and risk management solutions to more than 1,000 customers ranging from individuals to major corporate entities with international interests, and conducts business for clients in nearly every state across America, according to a statement released by MMA.
The firm will become part of MMA’s Mid-Atlantic region, expanding MMA’s market position in South Carolina created with the merging in of Rosenfeld Einstein in 2012.
MMA was established in 2008 to meet the needs of midsize businesses in the U.S, said the statement. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines and employee benefits to clients across the U.S.
MMA’s parent company, Marsh, is a wholly owned subsidiary of Marsh & McLennan Companies. With more than 53,000 employees worldwide and annual revenue exceeding $11 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement and investment consulting; and Oliver Wyman, a global leader in management consulting.
“Capstone is a great addition to further increase our market share in the Greenville area. We are pleased to be gaining a high caliber of local talent to enhance the resources available to our clients,” said Thomas R. Brown, vice chairman of the MMA Mid-Atlantic region, in the statement.
Capstone’s nine-member team is led by President Jack Puckett, Executive Vice President William Boswell III and Vice President Karen Cooper. All Capstone employees will join MMA’s Rosenfeld Einstein office in Greenville.
“We are excited to embark on Capstone’s next chapter as part of Marsh & McLennan Agency,” Puckett said in the statement. “With the tremendous capabilities and resources that MMA brings to bear, we will be even better positioned to help our clients identify, manage, and transfer their risks.”
The principals of Capstone are well-known in both South Carolina industry and Upstate civic circles, and all will continue in active roles with MMA, Puckett added.
“Marsh & McLennan Agency continues to successfully attract the best and the brightest in the industry to join what has become one of the preeminent insurance firms in the nation,” said David Eslick, chairman and CEO of Marsh & McLennan Agency. “We welcome Capstone to MMA and look forward to further increasing our presence in South Carolina.”