Marsh & McLennan buys large Texas agency

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Marsh & McLennan Agency (MMA), a subsidiary of Marsh, the White Plains, N.Y.-based insurance broker, has acquired Dallas-based MHBT Inc., one of the nation’s largest independent insurance brokers.

Terms were not disclosed.

With roots dating back nearly 100 years, MHBT is a provider of insurance, risk management, and employee benefits solutions to businesses and individuals throughout the US. The firm has annual revenue of approximately $ 76 million and 350 employees in five offices throughout Texas.

All MHBT employees will join MMA and operate under the name “MHBT, a Marsh & McLennan Agency LLC company.”

MHBT will serve as MMA’s Southwest regional hub under the leadership of MHBT CEO Bill Henry. Anthony C. Gruppo, who has been serving as MMA’s Southwest regional CEO since 2013, will continue to serve as CEO of MMA Houston.

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