Marsh, a subsidiary of Marsh & McLennan Companies, has acquired Alexander Forbes’ (AF) brokerage business including Alexander Forbes Risk Services (AFRS) and related ancillary operations, and insurance broking operations in Botswana and Namibia.
Marsh will also acquire other Alexander Forbes operations across Malawi, Mozambique, Nigeria, Uganda, and Zambia under regulatory and other approvals under the terms of the agreement.
The acquisition leverages Marsh’s portfolio in mining and minerals, power, telecommunications, transportation, and construction as well as expanding its presence in the vibrant economies in the sub-Saharan region and into the dynamic middle market.
Marsh’s International Division president David Batchelor said that the transaction will provide a platform to protect insurance brokers and risk adviser’s vital assets.
Transaction will end in the first quarter of 2012.
Marsh provides insurance broking and risk management, teams with its clients to define, design, and delivers industry-specific solutions.