Marsh McLennan acquires McGriff Insurance Services

Through its Marsh McLennan Agency business, Marsh McLennan is acquiring McGriff Insurance Services, a subsidiary of US broker TIH Insurance Holdings specializing in insurance brokerage and risk management services.

Under the terms of the transaction, Marsh will pay 7.75 billion USD in cash, plus an additional 500 million USD relating to a deferred tax asset.

Pending regulatory approval, the transaction is expected to be finalized by the end of 2024.