Marsh McLennan has completed its acquisition of McGriff Insurance Services with a value of US$7.75 billion, funded through a combination of cash and debt financing proceeds.
Founded in 1886, McGriff provides commercial P&C insurance, surety, employee benefits, and personal lines insurance solutions to businesses and individuals across the US.
With the closure of the transaction, more than 3,500 McGriff employees will become part of Marsh McLennan Agency.
John Doyle, president and CEO of Marsh McLennan, comments: “We are thrilled to welcome the McGriff team to Marsh McLennan. Their deep specialty and industry capabilities will strengthen Marsh McLennan Agency’s value proposition and expand our reach in the growing middle market.”
Read Davis, CEO of McGriff, adds: “By joining Marsh McLennan Agency, our teammates gain access to expanded global resources and industry knowledge to build their career growth and bring innovative, actionable solutions to clients.”
