Marsh to acquire HSBC Insurance Brokers for 135 m

Marsh, one of the world s leading insurance brokers and risk advisers, has reached an agreement to acquire HSBC Insurance Brokers Ltd (HIBL), a wholly owned subsidiary of HSBC Bank. Under the terms of the agreement, Marsh will acquire HIBL in consideration of 135 million, comprising a mixture of Marsh & McLennan Companies stock and cash. The transaction, which is subject to all relevant regulatory approvals, is expected to close in the first quarter of 2010. Both Marsh and HSBC Insurane Brokers have operations in India. HSBC Insurance Broker s India operation is headed by Rashmi Iyer. Talking to FE about the ...

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