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Daily Insurance Industry News
Thursday 15th of November 2018
January 5, 2012

Marsh makes Alexander Forbes’ brokerage acquisition

by Richard Kilner

Story link: Marsh makes Alexander Forbes’ brokerage acquisition

Marsh has announced that it has completed the acquisition of the brokerage business of Alexander Forbes (AF).

Included in the transaction are AF’s insurance broking operations in Botswana and Namibia, South African insurance broking operations, Alexander Forbes Risk Services (AFRS) and related ancillary operations.

In addition to this, Marsh has announced that it has agreed to acquire other Alexander Forbes operations in Malawi, Mozambique, Nigeria, Uganda and Zambia.

These further acquisitions are expected to be completed in Q1 2012, subject to the necessary regulatory approvals.

David Batchelor, President of Marsh’s International Division, said that the addition of Alexander Forbes’ well-established South African operations would dramatically improve the offering to Marsh’s clients.

Batchelor went on to say that the transaction was motivated by the firm’s desire to become a pan-African leader and gave it a powerful platform.

 

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