Marsh to Acquire Australian Honan Insurance Group for $448.7 Million in 2025
Marsh is set to expand its presence in Australia by acquiring Honan Insurance Group for $448.7 million, pending regulatory approvals.
Marsh, a leading U.S.-based insurance broker and part of Marsh & McLennan (MMC.N), announced its plan to acquire Australia's Honan Insurance Group, including the 80% stake held by TA Associates, a prominent global private equity firm.
The acquisition deal is valued at approximately $448.7 million and awaits regulatory clearance before finalization.
Key Highlights
- Marsh will purchase Honan Insurance Group for $448.7 million.
- The deal includes acquiring the majority 80% stake owned by TA Associates.
- Regulatory approvals are required to complete the transaction.
Strengthening Marsh’s Footprint in Australia and Beyond
With over 45,000 employees across 130 countries, Marsh is a global insurance broker and risk advisor generating more than $20 billion in annual revenue. This strategic acquisition will integrate 400 Honan employees from offices located in Australia, New Zealand, Singapore, and Malaysia.
Nick Harris, CEO of Marsh Pacific, stated, "Honan’s expertise in corporate risk and strata insurance complements our offerings, allowing us to enhance specialized services for clients throughout Australia and New Zealand, helping them navigate today’s complex risk landscape."
Honan specializes in designing, pricing, and negotiating insurance solutions for mid-market companies in sectors such as financial services, healthcare, and technology.
While Marsh outpaced competitors and private equity firms in securing this deal, final approval from regulators is still pending. Upon completion, Andrew Fluitsma, CEO of Honan, will report directly to Nick Harris.
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