Marsh & McLennan Agency LLC has followed acquisitions of several insurance groups with the purchase of Visicor.
Visicor, headquartered in Friendswood, Texas, is an employee benefits brokerage and consulting firm. Terms of the deal were not disclosed.
White Plains, New York-based insurance broker Marsh & McLennan is a subsidiary of Marsh LLC. In April, the company bought Capstone Insurance Services LLCfor an undisclosed amount. In December, the group bought Cambridge Property & Casualty.
Marsh & McLennan is just one of many insurance companies that are making acquisitions as the sector consolidates. Earlier in May, United Insurance Holdings Corp. (Nasdaq: UIHC) made an offer to buy Sunshine State Insurance Co. In April, Orix Life Insurance Corp. agreed to buy Hartford Life Insurance K.K.for $895 million. For more on the insurance sector, see "Racking Up Regional Insurers."