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Marsh & McLennan acquires employee benefits broker Prescott Pailet Benefits

IBR Staff Writer Published 12 July 2011

Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh, has acquired Prescott Pailet Benefits (PPB), a Texas-based $6m employee benefits broker.

Established in 2006 by the combination of Prescott Benefit Services and Pailet Financial Services, PPB offers health, life, dental, and disability products various organizations.

Following this transaction, PPB will operate within Marsh & McLennan's southwest regional hub with the same management and employees.

MMA Southwest operations CEO Woody Woodard said the addition of PPB's talented leadership and benefits team will enhance the ability to offer a full spectrum of property, casualty, and employee benefit capabilities to the clients in the Southwest.

The terms of the transaction were not disclosed.