Marsh McLennan acquires McGriff Insurance Services from Truist Insurance Holdings for $7.75B, expanding market presence.
Marsh McLennan, the largest U.S. insurance brokerage, is set to acquire McGriff Insurance Services from Truist Insurance Holdings for $7.75 billion. McGriff, which reported $1.3 billion in revenue in the past year, specializes in commercial and personal insurance. The deal, funded by cash and debt, will enhance Marsh McLennan's market presence and includes a $500 million deferred tax asset. The acquisition is expected to finalize by year-end, pending regulatory approval.
September 30, 2024
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