Marsh & McLennan Agency LLC, the middle-market business of Marsh LLC, said Friday it has bought PayneWest Insurance Inc., an independent agency with about $135 million in annual brokerage revenue.
Terms of the deal were not disclosed.
Missoula, Montana-based PayneWest has more than 700 employees operating from 26 locations in the Northwest. All of the employees will join Marsh & McLennan Agency, and PayneWest will operate as the broker’s Northwest regional hub under the leadership of PayneWest CEO Kyle Lingscheit, a Marsh & McLennan Agency statement said.
