JHVEPhoto
- Marsh McLennan (NYSE:MMC) confirmed on Monday that it reached an agreement to acquire all shares of Honan Insurance Pty Ltd, including the 80% held by private equity firm TA Associates.
- The deal gives Marsch (MMC) a specialist insurance broker that does business in the areas of corporate risk, employee benefits, and strata and real estate insurance. Honan operates across Australia, New Zealand and Asia. Financial terms of the deal, which is expected to close later this year, weren't disclosed.
- "The addition of Honan’s highly complementary capabilities, particularly in corporate risk and strata insurance, will enable Marsh to deepen the specialist expertise we provide to clients across Australia and New Zealand, and support them in managing the risks they now face," said Marsh's (MMC) CEO, Pacific.
- On Sunday, Bloomberg reported that Marsh (MMC) was close to completing a deal valuing Honan at ~A$700M (US$448M).
More on Marsh & McLennan
- Marsh & McLennan: 3 Reasons To Sell And Take A Capital Gain
- Marsh & McLennan Companies, Inc. (MMC) Q2 2023 Earnings Call Transcript
- Marsh & McLennan raised to Neutral at BofA after Q2 earnings beat
- Marsh & McLennan Q2 earnings top consensus, aided by R&I unit
- Seeking Alpha’s Quant Rating on Marsh & McLennan