Broker completes previously announced AF purchases
Marsh has agreed to buy more operations from Alexander Forbes after completing its previously announced purchases.
Marsh will buy AF’s sub-Saharan African units in Malawi, Mozambique, Nigeria, Uganda and Zambia subject to regulatory and other approvals. These transactions are expected to close in the first quarter of this year.
The broker completed the purchase of AF’s brokerage business, including the company’s South African broking business, Alexander Forbes Risk Services and its operations in Botswana and Namibia, today.
“The combination of Alexander Forbes’ well-established South African operations, its regional network and respected team together with Marsh’s existing South African business, global solutions, resources and placement skills, will bring dramatically enhanced benefits to all our clients,” said David Batchelor, president of Marsh’s international division, in a statement.
Jurie Erwee, who today became chief executive of the combined AF broking enterprise, now called Marsh Africa, added: “The whole team at AFRS has been made to feel very welcome by our colleagues at Marsh and we look forward to a rapid integration of the businesses. Together, as we unite our growth ambitions to become the continent’s pre-eminent broker and risk adviser, we are committed to bringing the world’s best to Africa.”