Marsh Acquires Texas Broker Wortham
Global insurance broking and risk management firm Marsh announced Monday, June 25, 2018, that it has acquired Houston-based Wortham Insurance.
Marsh is a subsidiary of Marsh & McLennan Companies, while Wortham is one of the largest independent insurance brokers headquartered in Texas, with locations in Houston, Austin, Dallas, Fort Worth, and San Antonio.
Both Marsh and Wortham are among the top five surplus lines brokers in Texas, as recorded by SLTX. Wortham reported $173 million in premium in 2017 and Marsh reported more than $280 million in the same period.
The combined companies will operate as Marsh Wortham. Richard M. Blades, current Wortham Chairman, will serve as CEO of the business. The transaction is expected to close in the third quarter of 2018 and details were not disclosed.