SÃO PAULO--(EON: Enhanced Online News)--Marsh, a global leader in insurance broking and risk management, today announced that it has reached agreement to acquire AD Corretora de Seguros, a leading insurance broker in the state of São Paulo. Terms of the transaction, which is expected to close later this month, were not disclosed.
Formed in 1980, AD Corretora is a highly regarded insurance broker specializing in mid-market business with particular expertise in the sugar refining, agri-business and infrastructure sectors. Headquartered in Bauru, it also has offices in Ribeirão Preto, Araçatuba and São Paulo.
“The acquisition of AD Corretora de Seguros further demonstrates Marsh’s commitment to expanding our footprint in Latin America, and Brazil in particular, to meet the evolving needs of businesses across the region,” said John Doyle, President of Marsh. “It further enables us to provide enhanced services to local and multinational organizations operating across some of the most important sectors in the Brazilian economy."
“São Paulo is one of the most dynamic regions in Brazil and I am excited by the opportunity to bring our expertise to a wider range of companies there,” said Eugenio Paschoal, President and CEO for Marsh Brazil. “Over many years, AD Corretora has built a reputation for providing excellent client service. By combining our two organizations we will be able to ensure that businesses across São Paulo get the very best risk and insurance advice. We look forward to welcoming the management team and colleagues of AD Corretora to Marsh.”
Alberto Dabus, Founder & CEO for AD Corretora, added: “As our clients’ needs have continued to evolve, we have given much thought about how best we meet their growing expectations. At the same time, we want to ensure that our colleagues are given the greatest opportunities to develop their careers. The business and capability fit between Marsh and AD Corretora is tremendous and will allow the two companies to deliver high aggregated value to their clients, both in sector knowledge and insurance placement. This announcement is great news for our clients and colleagues alike.”
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 30,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With annual revenue of US$13 billion and approximately 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a leader in providing risk and reinsurance intermediary services; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Follow Marsh on Twitter, @MarshGlobal; LinkedIn; Facebook; and YouTube.