Marsh McLennan to Acquire McGriff Insurance Services

(Reuters) – Insurance brokerage Marsh McLennan (NYSE:MMC) announced on Monday that it has reached an agreement to acquire its smaller rival McGriff Insurance Services for $7.75 billion.

McGriff, which provides insurance broking and risk management services across the U.S., reported $1.3 billion in revenue during the trailing 12 months ending June 30, 2024.

Marsh McLennan anticipates that the cash transaction will be completed by the end of the year, funded through a mix of cash and proceeds from debt financing.