Global broker Marsh Inc. announced that it has reached a definitive agreement to acquire the Rehder y Asociados Group, an insurance advisor in Peru. Marsh said the “business includes the insurance broker Rehder y Asociados and employee health and benefits specialist Humanasalud.”
Terms of the transaction were not disclosed.
Marsh said the acquisition, which is anticipated to close in the second quarter of 2013, would give it a “leadership position in one of South America’s best-performing economies. The combined entity, which will operate under the name Marsh Rehder, will bring together long-established and highly regarded operations of both firms to deliver the fullest range of solutions, resources, and placement capabilities to clients of all sizes in Peru.”
Marsh’s President and CEO Peter Zaffino described the business environment in Peru as “one of the most dynamic business environments in South America,” adding that the tie up with Rehder would provide additional business opportunities.
He also noted Rehder’s “long reputation for excellent client relationships,” which he said would “provide a compelling offering for companies in this fast-growing economy. Together with Rehder’s respected management team and colleagues, we will bring the full range of Marsh’s capabilities to their impressive range of industrial, commercial, and personal clients.”
Rehder’s CEO Javier Rehder will become Deputy CEO of the combined Marsh Rehder. He said: “By aligning the strengths that Rehder has built up over many years with Marsh’s strong team in Peru, we will present the strongest risk and insurance offering in the local market. Together, we will provide a broader offering and ensure that clients can access the full range of risk solutions to suit their needs.”
Juan Carlos Rizo Patron, CEO of Marsh Peru, who will be CEO of Marsh Rehder, added: “This combination is very positive news for the clients and colleagues of both companies as well as the risk and insurance industry in Peru. Clients will benefit from the extensive experience brought together in the combined business; our colleagues will enjoy expanded career opportunities; and our full range of services and solutions will give greater options to local companies of all sizes.”
Source: Marsh Inc.
Topics Mergers & Acquisitions
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