, Australia
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Marsh buys Honan Insurance

The acquisition also covers the 80% majority stake of TA Associates.

Marsh, an insurance broker and risk advisor under Marsh McLennan, has acquired the entire share capital of Honan Insurance Group.

This acquisition covers the 80% ownership held by major shareholder TA Associates (TA), a global private equity firm. 

The terms of the deal, set to be finalised later in 2023 pending regulatory clearances, have not been disclosed.

ALSO READ: Tokio Marine HCC acquires renewal rights for US insurer’s portfolio

Upon completion, Andrew Fluitsma, Chief Executive Officer (CEO) of Honan, will be under the leadership of Nick Harris, CEO, Pacific, at Marsh. 

Honan's management team and workforce will merge with Marsh.

 

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