Marsh McLennan strikes $7.75 bln deal for McGriff Insurance Services (updated)

Marsh & McLennan Companies

30/09/2024 12:41

(Adds details and context in paragraphs 2-3)
       Sept 30 (Reuters) - Insurance brokerage Marsh McLennan
 MMC.N  said on Monday it has agreed to buy smaller rival
McGriff Insurance Services for $7.75 billion.
    McGriff, a provider of insurance broking and risk management
services in the U.S., generated $1.3 billion in revenue for the
trailing 12 months ended June 30, 2024.
    Marsh said it expects the cash deal to close by year-end. It
would be funded by a combination of cash and proceeds from debt
financing. 

 (Reporting by Manya Saini in Bengaluru; Editing by Shilpi
Majumdar)
 ((Manya.Saini@thomsonreuters.com; X: manya__saini;))