MMC stock continued to trend higher on November 16, 2021. The company announced on November 5, 2021, that it acquired Pelnik Insurance.
We see increased M&A activity within the insurance sector.
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Back on June 18, 2021, CNBC’s Contessa Brewer reported on why analysts are seeing big opportunities for growth in insurance names.
Marsh McLennan Agency Acquires Pelnik Insurance
On November 5, 2021, Marsh McLennan Agency (MMA), a subsidiary of Marsh, announced the acquisition of Pelnik Insurance, a leading independent agency in North Carolina. The terms of the purchase were not disclosed.
Founded in 1994, Pelnik Insurance, led by CEO Chris Pelnik, offers business insurance, employee health and benefits, and private client services to midsize businesses and individuals throughout the Mid-Atlantic. Pelnik has 19 employees across offices in Cary and Greensboro, North Carolina, joining MMA.
“Pelnik Insurance has a talented team dedicated to delivering quality client service. With the addition of Pelnik Insurance, we continue to expand our reach and broaden our client offerings across North Carolina and the region,” commented John Stanchina, CEO of MMA’s Mid-Atlantic region.
Mr. Pelnik added: “Joining MMA is an opportunity to provide our colleagues’ growth opportunities and give clients access to the capabilities of an organization respected for its expertise and resources.”
Marsh McLennan Agency (MMA) provides business insurance, employee health & benefits, retirement, and private client insurance solutions to organizations and individuals seeking limitless possibilities. With 8,000 colleagues and 160 offices across North America, MMA combines the personalized service model of a local consultant with the global resources of the world’s leading professional services firm, Marsh McLennan (NYSE: MMC).
Marsh is the world’s leading insurance broker and risk advisor. Marsh serves commercial and individual clients with around 40,000 colleagues operating in more than 130 countries with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy, and people. With over $18 billion annual revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th..., Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. For more information, visit mmc.com, follow us on LinkedIn and Twitter, or subscribe to BRINK.
Marsh McLennan Agency Acquires Southwest Truck Insurance Agency, Inc.
On November 3, 2021, Marsh McLennan Agency (MMA), a subsidiary of Marsh, announced the acquisition of Southwest Truck Insurance Agency, Inc., a leading independent agency in Irving, Texas. The terms of the purchase were not disclosed.
Founded in 1986, Southwest Truck Insurance specializes in business insurance solutions for the trucking industry, specializing in domestic and cross-border trucking operations, serving clients in the US and Mexico. All of Southwest Truck Insurance’s team, led by John Phillips, President, will join MMA.
“Transportation and trucking organizations are part of a complex industry that requires an experienced broker to navigate their insurance needs. John and the team at Southwest Truck Insurance have built a strong reputation recognized for their service and expertise,” said Tim Fleming, Regional CEO at MMA. “The Southwest Truck Insurance team strengthens our ability to serve clients in this growing industry, and we are thrilled to welcome them to MMA.”
Mr. Phillips added: “Over the years, we have come to know and respect the Marsh McLennan Agency brand, capabilities, and team. Today, we are excited to unite our expertise with their resources to expand our reach in the trucking industry collectively. By joining MMA, I look forward to delivering even more solutions and services to our clients and introducing new growth opportunities for our colleagues.”
MMC Stock Technical Analysis
Both the short-term and long-term trends are positive. This is a very positive sign. MMC is part of the Insurance industry. There are 153 other stocks in this industry. MMC outperforms 83% of them. Besides having an excellent technical rating, MMC also presents a decent setup pattern. Prices have been consolidating lately, and the volatility has been reduced. There is a resistance zone just above the current price, starting at $169.58. Right above this resistance zone may be a good entry point. Click here to sign up for email alerts on when MMC stock is a good entry.