Marsh & McLennan of White Plains buys Minneapolis firm

By Bill Heltzel

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Marsh & McLennan Agency, a White Plains insurance broker and risk management firm, has acquired Blakestad Inc. in Minneapolis.

Jerod Blakestad

Blakestad, founded in 1974, provides property casualty insurance to private businesses and individuals, focusing on high-net-worth people.

All Blakestad employees, including president Jerod Blakestad, will continue working from the Minneapolis office, according to an announcement by Marsh.

Marsh is a subsidiary of Marsh & McLennan Cos., a publicly traded global professional services company. Last year the corporation posted $13.2 billion in revenue and $1.76 billion in net income, according to its annual financial statement.

The terms of the Blakestad deal were not disclosed.

The corporation has been on a buying spree. It acquired 15 companies in 2016 for $901 million, according to its annual Securities and Exchange Commission filing. In 2015, it acquired 21 companies for $1.2 billion.

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About the author

Bill Heltzel
Bill Heltzel has covered criminal justice, courts, government and sports – as a beat reporter and investigative reporter – for daily newspapers in Florida, Indiana, Ohio, and Pennsylvania. He worked for Bloomberg LP in training and sales. He joined The Business Journal in 2016.

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