Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., has acquired the employee-benefits division of Kaeding, Ernst & Co., a Marlborough, Mass. employee benefits, life insurance and financial planning firm.
Terms of the transaction were not disclosed. In a news release issued Friday, Marsh & McClennan said Kaeding brings $600,000 in annual revenue to Marsh's Bostonian Group.
In February Marsh & McLennan acquired the Boston office of Kinloch Consulting, the employee benefits division of Kinloch Holdings.
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