US Insurance Giant Marsh Agrees to Acquire Australia’s Honan (1)

Marsh has agreed to acquire Honan Insurance Group Pty Ltd. as the US insurance broker giant seeks to expand its presence in Australia and New Zealand.

The Marsh & McLennan Cos Inc. unit has signed a deal to buy out Melbourne-based Honan, including an 80% stake held by private equity firm TA Associates, according to a statement, which confirmed an earlier Bloomberg News report. The deal is expected to be completed later this year, subject to regulatory approval. Marsh did not disclose the terms of the deal.

“The addition of Honan’s highly complementary capabilities, particularly in corporate risk ...