Marsh & McLennan Agency acquires Presidio Benefits Group
Marsh & McLennan Agency has acquired San Francisco-based Presidio Benefits Group for an undisclosed sum. The deal adds additional benefits consulting practice to its growing base of mid-market presence across the US.
Presidio Benefits Group (Presidio) is a San Francisco-based health and welfare benefits consulting firm. The firm supports its clients to meet compliance requirement, develop strategic direction, and develop customer services excellence, among others. The firm was founded in 2006 by Alan Ikeya and Matthew Coan, both formerly employed at Gallagher.
The deal, the value of which has not been disclosed, sees Presidio become a subsidiary of Marsh & McLennan Agency (MMA), a subsidiary of Marsh and one of the largest insurance providers in the US. As part of the integration, Coan and Ikeya remain at the helm of the firm, with the firm’s staff to operate out of MMA’s San Francisco-base.
Paul Hering, MMA’s Western Region CEO, says, “Presidio’s talented and experienced employee benefits professionals share our same core values of putting clients’ interests first and providing exceptional service. I welcome Alan, Matt, and the rest of the Presidio team to MMA and look forward to working together to deliver innovative solutions that help address the myriad of risk and benefit challenges facing local businesses.”
Ikeya says that the firm is “excited” to join MMA and is “look forward” to delivering expanded solutions and services to the firm’s clients and providing additional opportunities for its employees. Coan adds, “MMA has an amazing team with a world class product and service platform, and joining them puts us in the best position possible for serving our clients’ diverse needs as well as giving our colleagues enhanced career opportunities.”
The addition continues MMA’s long history of inorganic expansion, recent deals include the addition of Aviation Solutions And Celedinas Insurance Group.
