(Reuters) -Insurance brokerage Marsh McLennan said on Monday it has agreed to buy smaller rival McGriff Insurance Services for $7.75 billion.
McGriff, a provider of insurance broking and risk management services in the U.S., generated $1.3 billion in revenue for the trailing 12 months ended June 30, 2024.
Marsh said it expects the cash deal to close by year-end. It would be funded by a combination of cash and proceeds from debt financing.
(Reporting by Manya Saini in Bengaluru; Editing by Shilpi Majumdar)
