Trustmark National Bank Enters Agreement To Sell Fisher Brown Bottrell Insurance, Inc. Subsidiary To Marsh & McLennan Agency For $345M In Cash; Deal Expected To Close By End Of Q2
Portfolio Pulse from Benzinga Newsdesk
Trustmark National Bank has agreed to sell its Fisher Brown Bottrell Insurance, Inc. subsidiary to Marsh & McLennan Agency for $345 million in cash. The transaction is anticipated to close by the end of Q2.
April 23, 2024 | 8:41 pm
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Marsh & McLennan Agency's acquisition of Fisher Brown Bottrell Insurance, Inc. for $345M in cash could expand its insurance services portfolio.
The acquisition of Fisher Brown Bottrell Insurance, Inc. by Marsh & McLennan Agency (MMC) for $345 million in cash is likely to positively impact MMC's stock in the short term by expanding its insurance services portfolio and potentially increasing its market share in the insurance sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Trustmark National Bank's sale of its insurance subsidiary for $345M in cash could strengthen its financial position.
The sale of Fisher Brown Bottrell Insurance, Inc. to Marsh & McLennan Agency for $345 million in cash is expected to have a positive short term impact on Trustmark National Bank's (TRMK) stock by potentially strengthening its financial position and allowing it to focus on its core banking operations.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80