Marsh & McLennan Agency, a subsidiary of insurance broker Marsh, has acquired The NIA Group, an independent insurance agency in the Northeast and the US, and its New York City office Kornreich-NIA.

The company said the transaction was part of a series of strategic acquisitions as it builds a national business to serve mid-sized companies across the country.

Established in 1926, The NIA Group has an annual revenue of $62m with offices in New Jersey, New York, Connecticut, and Florida. Headquartered in Paramus, New Jersey, The NIA Group has approximately 400 employees and provides property and casualty insurance, employee benefits, personal insurance and life insurance/estate planning.

David Eslick, chairman and CEO of Marsh & McLennan Agency, said: "The addition of The NIA Group and Kornreich-NIA to our firm gives us a strong operation in the New York metropolitan area and Florida. We're delighted to welcome the leadership team and the employees of The NIA Group and Kornreich-NIA to our firm."

Last month, Marsh & McLennan Agency acquired Insurance Alliance, an independent insurance agency in the Southwest.