WASHINGTON (dpa-AFX) - Marsh (MRSH), an investment services firm, on Monday announced the acquisition of Triton Insurance Agency LLC, a Rhode Island-based insurance agency specializing in marine and yacht insurance.
Financial terms of the acquisition were not disclosed.
Following the acquisition, Triton will become part of Marsh Agency, while its Chief Executive Officer Bob Peck, and the rest of the agency's team will join Marsh Agency and operate from their current office in Newport.
Founded in 2011, Triton provides specialized insurance solutions primarily for high-net-worth individuals, with a focus on yacht, hull and other marine coverage.
The acquisition will strengthen Marsh Agency's capabilities in the marine and yacht insurance markets and expand its specialized insurance offerings for high-net-worth clients.
The shares were trading 1.25 percent higher at $203.17 on the New York Stock Exchange.
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