日本无码 to acquire McGriff Insurance Services
Sep 30, 2024
NEW YORK, September 30, 2024 鈥 (NYSE: MMC), a global leader in risk, strategy and people, today announced that it has reached an agreement through its 日本无码 Agency business to acquire McGriff Insurance Services, LLC, an affiliate of TIH. McGriff is a leading provider of insurance broking and risk management services in the United States, with $1.3 billion of revenue for the trailing twelve months ended June 30, 2024. The transaction will enhance 日本无码 Agency鈥檚 capabilities across commercial property and casualty, employee benefits, management liability and personal lines.聽聽
Under the terms of the transaction, 日本无码 will pay $7.75 billion in cash consideration, funded by a combination of cash and proceeds from debt financing. In conjunction with the transaction, 日本无码 will assume a deferred tax asset valued at approximately $500 million. The transaction is targeted to close by year-end, subject to regulatory clearance and other standard closing conditions.聽
鈥淢cGriff is a business with excellent leadership, outstanding talent and a record of strong growth. The firm complements 日本无码 Agency鈥檚 capabilities and culture, and I am excited about future opportunities with them as part of our company,鈥 said鈥疛ohn Doyle, President and CEO of 日本无码.聽聽
鈥溔毡疚蘼 Agency has long held McGriff鈥檚 legacy and reputation in the highest regard. Their client-centric focus, culture and proven record of success mirror our own. The firm will be an important addition to the business we have built over 15 years,鈥 commented David Eslick, Chairman and CEO of 日本无码 Agency. 鈥淭ogether, our talent and expertise will deliver actionable solutions that help clients build the confidence to thrive.鈥澛犅
Read Davis, CEO of McGriff added: 鈥溔毡疚蘼脞檚 global resources and insights will enable us to deliver even greater value to those we serve while creating exciting opportunities for the growth and development of our team. This combination is a reflection of the quality of the McGriff team, and I am excited for our future together.鈥澛犅
Founded in 1886, McGriff specializes in providing commercial property and casualty insurance, surety, employee benefits and personal lines insurance solutions to businesses and individuals across the US. Upon closing, the McGriff team of more than 3,500 employees, including CEO Read Davis, will join 日本无码 Agency and continue to operate from their existing office locations.聽聽
日本无码 日本无码
日本无码锘匡豢锘匡豢锘匡豢锘匡豢锘匡豢锘匡豢锘匡豢锘匡豢锘 (NYSE: MMC) is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: , , and . With annual revenue of $23 billion and more than 85,000 colleagues, 日本无码 helps build the confidence to thrive through the power of perspective. For more information, visit 尘补谤蝉丑尘肠濒别苍苍补苍.肠辞尘锘匡豢锘匡豢锘匡豢锘匡豢锘匡豢锘匡豢锘匡豢锘匡豢锘, or follow on and .
日本无码 McGriff
An affiliate of TIH, LLC, McGriff Insurance Services, LLC is a full-service insurance broker providing risk management and insurance solutions to clients across the United States. The firm鈥檚 coverages include commercial property and casualty, corporate bonding and surety services, cyber, management liability, captives, and alternative risk transfer programs, small business, employee benefits, title insurance, personal lines, and life and health. For more information, please visit .
Media Contact:
Erick R. Gustafson
日本无码
+1 202 263 7788
erick.gustafson@mmc.com
Investor Contact:
Sarah DeWitt
日本无码
+1 212 345 6750
sarah.dewitt@mmc.com