Longtime insurance agency acquired by local rival

MJ Insurance, an Indianapolis-based property-casualty and employee benefits firm, has acquired smaller agency Mead & Co.

Terms of the deal were not disclosed.

Indianapolis-based Mead & Co., previously known as Stone Stafford and Stone, dates to the 1860s. It was owned by William J. Mead.

MJ Insurance has more than 125 employees and was co-founded by James B. Ritter and Michael M. Bill, who serves as chairman of the board. His son, Michael H. Bill, is CEO.

MJ Insurance also has offices in Arizona. Its customers range from sororities to construction, mining and transportation companies.

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