Global insurance broking and risk management firm Marsh has completed the acquisition of Alexander Forbes’ stake in Nigerian insurance broker Femi Johnson & Company (FJC).
Marsh intends to merge the newly-acquired business with its long-term partner Insurance Brokers of Nigeria (IBN).
Subject to regulatory approvals, the combined operations of IBN and FJC are expected to become a leading insurance broker and risk adviser in Nigeria.
Marsh Africa CEO Jurie Erwee said, "We are delighted that our African expansion plans are advancing so well. Nigeria is a very important part of our African strategy."
FJC CEO David Johnson added, "By making Marsh’s extensive global experience and resources available to firms locally we will enable Nigerian firms to meet the challenges of an increasingly complex risk landscape."
In 2012, Marsh acquired Alexander Forbes’ South African insurance broking operationsin Botswana, Malawi, Namibia, Uganda, and Zambia.