Marsh & McLennan Buys Cambridge Property & Casualty

Marsh & McLennan Agency, a subsidiary of insurance broker Marsh Inc., announced Tuesday the acquisition of Cambridge Property & Casualty, one of the largest property/casualty insurance agencies in Michigan. Terms of the transaction were not disclosed.Founded in 1974 and based in Livonia, Mich., Cambridge provides property and casualty insurance and risk-management solutions to mid-size businesses and high net worth individuals throughout the world, Marsh said in a press release. It has roughly $6 million in annual revenues and 41 employees, all of whom will join MMA.Cambridge will oper...