Cements Long-Standing Relationship to Become Leading Broker and Risk
Adviser in Fast-Growing Caribbean Economy
SANTO DOMINGO, Dominican Republic--(BUSINESS WIRE)--Jun. 6, 2013--
Marsh, a global leader in insurance broking and risk management, today
announced that it has reached a definitive agreement to acquire Franco &
Acra Tecniseguros, the leading insurance adviser in the Dominican
Republic and Marsh’s long-standing local correspondent broker. Terms of
the transaction were not disclosed.
The transaction, which is anticipated to close in the second quarter of
2013, will give Marsh a leadership position in one of the Caribbean’s
largest economies. Operating under the name Marsh, Franco & Acra, it
will combine the long-established and highly regarded operations of
Franco & Acra Tecniseguros, with the global solutions, resources and
placement capabilities of Marsh to provide an enhanced service to
clients of all sizes that will be unsurpassed in the Dominican Republic.
Franco & Acra Tecniseguros has been Marsh’s local correspondent broker
since 1977.
Peter Zaffino, President and CEO of Marsh Inc., said: “The Dominican
Republic has one of the strongest economies in the Caribbean, and I am
excited by the opportunity to offer companies there the full range of
Marsh’s regional and global capabilities. This transaction solidifies
the successful long-established relationship Marsh has had with Franco &
Acra Tecniseguros. We look forward to working with their respected local
management team and colleagues to further broaden their already deep
client relationships by offering an enhanced global service and greater
specialization across diverse sectors and industries.”
Enrique Valdez, Managing Partner of Franco & Acra Tecniseguros, who will
become CEO of Marsh, Franco & Acra, said: “Strong economic growth in
recent years has increased the demand for a higher level of risk advice
from companies looking to expand. By further consolidating our
relationship with Marsh, we will strengthen and enhance the capabilities
that Franco & Acra Tecniseguros has built up over many years and present
the most comprehensive risk and insurance offering in the local market.
It will ensure that clients have access to the full range of risk
solutions to suit their particular needs.
About Marsh
Marsh,
a global leader in insurance broking and risk management, teams with its
clients to define, design, and deliver innovative industry-specific
solutions that help them protect their future and thrive. It has
approximately 26,000 colleagues who collaborate to provide advice and
transactional capabilities to clients in over 100 countries. Marsh is a
wholly owned subsidiary of Marsh
& McLennan Companies (NYSE: MMC), a global team of professional
services companies offering clients advice and solutions in the areas of
risk, strategy, and human capital. With over 53,000 employees worldwide
and annual revenue exceeding $11 billion, Marsh & McLennan Companies is
also the parent company of Guy
Carpenter, a global leader in providing risk and reinsurance
intermediary services; Mercer,
a global leader in talent, health, retirement, and investment
consulting; and Oliver
Wyman, a global leader in management consulting. Follow Marsh on
Twitter @Marsh_Inc.
Source: Marsh
Marsh
Sally Roberts, +1 303 952 9453
sally.roberts@marsh.com
or
Lee
Ann Farwell, +1 212 345 1125
leeann.farwell@marsh.com
