Creates leading corporate risk and strata insurance offering in Australia and New Zealand
Sydney, 1 December 2023 – Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan (NYSE: MMC), today announced that it has completed its previously announced acquisition of Honan Insurance Group, a leading specialist insurance broker in the areas of corporate risk, employee benefits, and strata and real estate insurance.
The acquisition, which was announced in August, enhances Marsh’s market-leading position in the region’s corporate market segments and will offer significant benefits to clients of both companies.
Founded in 1964, Honan’s key offerings span corporate risk advisory and employee benefits. It also specialises in strata and real estate insurance services, offering residential, commercial and industrial, and build to rent advice to large residential buildings (strata committees), agents, and landlords in Australia and New Zealand.
Andrew Fluitsma, previously CEO of Honan, today becomes Marsh’s Pacific Head of Corporate and Commercial. From today Marsh and Honan will begin bringing colleagues together in Australia, New Zealand, Singapore and Malaysia, with plans to complete co-location within the first quarter of 2024.
Josh Roach, who will become President of Marsh Pacific on 1 January, said: “This is an exciting new chapter; it’s about bringing two great businesses together, harnessing their respective strengths, and maximising the possibilities we will be able to achieve together for our clients, colleagues, and communities.”
Mr Fluitsma said: “I’m incredibly pleased about our two organisations joining together, aligned around our shared values and ambitions, and enhancing the expertise and innovations we offer to the business community.”
