Marsh & McLennan Agency (MMA) has acquired Montana-based PayneWest Insurance, one of the largest independent agencies in the US.
PayneWest provides business insurance, surety, employee benefits, and personal insurance services to companies and individuals across the Northwest through offices across Idaho, Montana, Oregon, and Washington.
As part of the acquisition, PayneWest will operate as MMA’s Northwest regional hub under the leadership of Kyle Lingscheit, CEO of PayneWest.
Lingscheit will report to David Eslick, chairman and CEO of MMA.
PayneWest’s 700-plus employees will join MMA and continue to work from its 26 locations across the region.
Commenting on the acquisition, Eslick says: “Across both the Northwest and the insurance industry, PayneWest is recognised for the quality of their colleagues, their client service, and their commitment to giving back to the community.”
“Attracting high-performing agencies like PayneWest amplifies our reach across the US and will continue to enhance the quality of our client offerings. We are excited to welcome the PayneWest team to MMA,” he adds.
Lingscheit notes: “As a growing company, we have been successful by always putting our
clients, colleagues, and communities first. Being part of MMA means our clients will have access to more resources and innovative solutions, and our colleagues will see continued opportunities for growth and personal development. PayneWest's teams will greatly contribute to the ongoing evolution of this dynamic organisation.”
Terms of the acquisition were not disclosed.
In December 2020, MMA acquired INSPRO, a full service, independent agency, based in Nebraska.
