New York insurance giant set to acquire local firm

CLEARWATER — Bouchard Insurance has agreed to be acquired by Marsh & McLennan Agency LLC, the nation’s ninth-largest insurance broker based on annual revenue. The deal is expected to close by the end of the month, according to a press release.

Founded in 1948 in Clearwater, Bouchard is a full-service agency with offices in Clearwater, Fort Myers, Kissimmee, Maitland, Sarasota and Tampa.

Headquartered in New York, Marsh & McLennan Agency LLC is the middle-market subsidiary of Marsh and reported revenue of $14.02 billion in 2017, up from $13.21 billion in 2016. According to the release, Bouchard, with 260 employees, will maintain its existing office locations and operate as Bouchard Insurance, a Marsh & McLennan Agency LLC company.

Doug Bishop, who has served as CEO of Bouchard since 2009, will continue to lead the firm. Other terms of the deal were not disclosed.

“By joining the MMA team we have the opportunity to provide innovative resources and solutions for our clients, and new growth opportunities for our colleagues,” Bishop states in the release. “Equally important, MMA shares our passion to support the communities we serve. We are excited to play a role in the ongoing growth of this dynamic national firm.”