Marsh McLennan Agency, the insurance brokerage arm of Marsh McLennan, has bought a small competitor in Walla Walla, Washington to advance its business expansion plans.

Marsh McLennan Agency has about 9,000 employees in 170 offices throughout North America. The firm advises companies on what business insurance packages to buy and also offers assistance with other tasks, such as implementing employee benefits programs.

Marsh McLennan Agency parent company Marsh McLennan, is one  of the biggest names in consulting. The $20 billion company offers services ranging from wealth management to management consulting. 

Marsh McLennan Agency is now expanding its office network in the U.S. by buying a regional insurance broker called McDonald Zaring Insurance. McDonald Zaring is headquartered in the city of Walla Walla, Washington. 

Marsh McLennan Agency will use McDonald Zaring’s assets to launch a new Walla Walla office. The office will join the four existing branches that the firm maintains in Washington state. 

Walla Walla is the namesake of the Walla Walla Sweet Onion, Washington’s official state vegetable. That’s a fun fact worth knowing if you’re in the insurance business: Walla Walla’s state-famous onions are produced by the area’s large agricultural sector, which presents many revenue opportunities for an insurance brokerage like Marsh McLennan Agency.

Agricultural companies are generally asset-heavy, meaning they have a significant amount of physical assets in need of insurance. As a result, Walla Walla represents a sizable market for insurance brokerage services. 

McDonald Zaring, the local insurance broker March McMillan is acquiring, works with not only agricultural companies but also firms in other sectors. It also provides services with individuals. 

McDonald Zaring’s business model aligns well with that of Marsh McLennan Agency, which is an important consideration in corporate acquisitions. Like McDonald Zaring, Marsh McLennan Agency offers a mix  of services for both companies and individuals.

The acquisition “will allow us to provide expanded resources and service capabilities to our existing and prospective clients,” noted McDonald Zaring executive Shaun Borth. Marsh McLennan Agency, he added, “brings our colleagues new educational, professional and personal development opportunities.”

All 19 of McDonald Zaring’s employees will join Marsh McLennan Agency as part of the acquisition.

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