Source: Marsh McLennan
Marsh McLennan will pay $7.75 billion in cash consideration, funded by a combination of cash and proceeds from debt financing. In conjunction with the transaction, Marsh McLennan will assume a deferred tax asset valued at approximately $500 million. The transaction will enhance Marsh McLennan Agency’s capabilities across commercial property and casualty, employee benefits, management liability and personal lines.
“McGriff is a business with excellent leadership, outstanding talent and a record of strong growth. The firm complements Marsh McLennan Agency’s capabilities and culture, and I am excited about future opportunities with them as part of our company,” said John Doyle, President and CEO of Marsh McLennan.
“Marsh McLennan Agency has long held McGriff’s legacy and reputation in the highest regard. Their client-centric focus, culture and proven record of success mirror our own. The firm will be an important addition to the business we have built over 15 years,” commented David Eslick, Chairman and CEO of Marsh McLennan Agency. “Together, our talent and expertise will deliver actionable solutions that help clients build the confidence to thrive.”
Read Davis, CEO of McGriff added: “Marsh McLennan’s global resources and insights will enable us to deliver even greater value to those we serve while creating exciting opportunities for the growth and development of our team. This combination is a reflection of the quality of the McGriff team, and I am excited for our future together.”
Read the full article: https://www.marshmclennan.com/news-events/2024/september/marsh-mclennan-to-acquire-mcgriff-insurance-services.html
