The global insurance broker MARSH said that it has completed its previously announced acquisition of Houston, Texas-based WORTHAM Insurance.
Founded in 1915, WORTHAM is one of the premier independent insurance brokerage firms in the US providing property/casualty insurance, surety, personal lines, and employee benefits advice and solutions to a wide range of businesses and individuals throughout the country. With more than 530 colleagues based throughout Texas, WORTHAM has particular expertise in energy, power, construction, and retail sectors in addition to managing several specialty programs.
With the addition of WORTHAM, MARSH expands its footprint in Texas to include the Austin and Fort Worth markets. It will merge its existing operations in Dallas, Houston, San Antonio, New Orleans, and Tulsa with Wortham. The combined business will operate as MARSH WORTHAM under the leadership of CEO Richard M. Blades, WORTHAM’s former Chairman, who reports to Martin SOUTH, President of MARSH’s US and Canada division.
Commenting on the announcement, Martin SOUTH, said: “We are excited to welcome Richard BLADES and the WORTHAM team to MARSH as they share our values and commitment to client service. Combined with MARSH’s highly regarded colleagues, we will deliver greater value to clients in this vital US region.”