Marsh To Acquire Honan Insurance Group; Terms Undisclosed

(RTTNews) - Marsh, a insurance broker and risk advisor and a business of Marsh McLennan, said that to acquire Honan Insurance Group Pty Ltd, a specialist insurance broker in the areas of corporate risk, employee benefits, and strata and real estate insurance. The deal includes the 80% holding of majority shareholder TA Associates, a private equity firm. Terms of the acquisition were not disclosed.

The acquisition is expected to be completed later in 2023.

Founded in 1964, Honan operates across Australia, New Zealand, and Asia from its Melbourne headquarters, serving over 30,000 clients from offices in Sydney, Brisbane, Perth, Adelaide, Darwin, Newcastle, Auckland, Singapore, and Kuala Lumpur.

On completion, Andrew Fluitsma, CEO of Honan, will report to Nick Harris, CEO, Pacific, Marsh.