Marsh & McLennan Agency, a subsidiary of insurance broker Marsh, has acquired the Bond Network, a surety bonding agency based in North Carolina. Terms of the transaction were not disclosed.
Founded in 1985 by Thomas Dawkins, the Bond Network generates $1.1 million in annual revenue and offers commercial, contract, and special risk surety bonds to private contractors throughout North and South Carolina.
Dawkins and the rest of the agency will operate out of Marsh & McLennan Agency's mid-Atlantic region.
Thomas Brown, vice chairman of Rutherfoord, a Marsh & McLennan Agency LLC company, said: “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. I’m thrilled to welcome Dawkins and his team to MMA.”
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.”
