Marsh McLennan to Acquire McGriff Insurance in $7.8 Billion Deal

Marsh McLennan agreed to buy smaller rival McGriff Insurance Services in a $7.8 billion cash transaction, marking its largest ever deal.

The New-York based brokerage firm aims to close the transaction by year-end, it said in a statement Monday. McGriff, an affiliate of TIH Insurance, posted revenues of $1.3 billion in the 12 months ending in June 2024.

The acquisition will boost Marsh’s property and casualty, management liability, employee benefits and personal lines businesses, Marsh said in the statement.

“The firm will be an important addition to the business we have built over 15 years,” David Eslick, chairman ...