The acquisition is intended to support MMA’s growth in the South Florida market. Financial terms of the deal were not disclosed.
Founded in 2020, Excel Insurance provides insurance solutions to small businesses and individuals, with a focus on watercraft and motor vehicle coverage. The agency also offers general property and casualty products, with clients primarily located across South Florida.
As part of the transaction, all Excel employees, including president Jacob Pared, will join MMA and operate from its existing Doral, Florida office. The integration will expand MMA’s regional service capabilities and client base, while maintaining local delivery through the existing team.
“Acquiring Excel Insurance is a strategic move that enhances our commitment to serving clients in South Florida,” said Doug Bishop, CEO of MMA’s Florida region. “I welcome Jacob and his team to MMA and look forward to providing even more capabilities and expertise to clients in the region.”
The deal is the latest in a series of regional acquisitions by MMA as it looks to expand its presence in key US markets through the addition of locally established agencies. MMA has made multiple acquisitions in Florida over the past several years, as part of efforts to build scale and diversify offerings in the state’s competitive insurance environment.
MMA provides insurance and risk management services across a range of segments, including business insurance, employee health and benefits, retirement and wealth, as well as private client services.
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