Marsh & McLennan Agency LLC, the middle market agency subsidiary of Marsh LLC, on Tuesday said it has acquired Phoenix-based commercial broker Lovitt & Touché Inc.
Terms of acquisition were not disclosed.
Lovitt & Touché, founded in 1911, provides commercial property, casualty, personal lines and employee health and benefits in Arizona and surrounding states, with a focus on the construction, real estate, nonprofit, healthcare, and manufacturing industries, said Marsh & McLennan Agency in a statement. In addition to Phoenix, the broker has offices in Tucson, Arizona, and Las Vegas.
Lovitt & Touché's 181 employees will join the agency, and Charlie Touché, Lovitt & Touché CEO since 1
Lovitt & Touché is the 77th-largest broker of US business, with 2017 U.S. brokerage revenue or $ 39,932,277, according to Business Insurance 's latest ranking
Marsh & McLennan Agency's ultimate parent, Marsh & McLennan Cos. Inc., is the world's largest insurance brokerage, according to the ranking.