Finance

Marsh McLennan to Acquire McGriff Insurance in $7.8 Billion Deal

Marsh McLennan headquarters in New York.
Photographer: GHI-Plexi Images/UCG/Universal Images Group/Getty Images

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By Alexandre Rajbhandari

September 30, 2024 at 1:21 PM UTC

This article is for subscribers only.

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.