Marsh McLennan Agency Agrees To Acquire Fisher Brown Bottrell Insurance (FBBINSURANCE) From Trustmark National Bank For ~$315.9M Cash
Portfolio Pulse from Benzinga Newsdesk
Marsh McLennan Agency, a subsidiary of Marsh McLennan (MMC), has agreed to acquire Fisher Brown Bottrell Insurance (FBBINSURANCE) from Trustmark National Bank for approximately $315.9 million in cash. FBBINSURANCE, based in Jackson, Mississippi, ranks among the top five largest bank-affiliated insurance agencies in the U.S. and is a major player in the Southeast. The deal is subject to regulatory approval and standard closing conditions, with an expected closure in the second quarter of 2024.
April 23, 2024 | 8:41 pm
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Marsh McLennan's acquisition of FBBINSURANCE for $315.9M could significantly bolster its presence in the Southeast, enhancing its portfolio and potentially increasing its market share in the insurance sector.
The acquisition of FBBINSURANCE by Marsh McLennan is a strategic move to expand its services and market presence in the Southeast, one of the largest insurance markets in the U.S. This acquisition is likely to be viewed positively by investors as it signifies growth and expansion. Given the size of the deal and FBBINSURANCE's significant position in the market, this acquisition could lead to increased revenue streams and a stronger competitive position for Marsh McLennan in the insurance industry.
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