Price Forbes & Partners, a newly incorporated company, has completed the acquisition of Price Forbes from Marsh McLennan.
The terms of the transaction were not disclosed.
Price Forbes & Partners will take over the existing operations of Price Forbes including its claims and client servicing operations, its existing leasehold premises in Minster Court, London and the various assets, liabilities and contracts relating to the business operations of Price Forbes Limited.
The company has also acquired the exclusive rights to invite renewal of the existing book of Price Forbes business and all additional business arising therefrom.
The business will continue to trade under the Price Forbes name and all members of staff who are currently employed by Price Forbes Limited have transferred to Price Forbes & Partners.
Michael Donegan, executive chairman of Price Forbes & Partners, said: “We are delighted to have completed this transaction, to have gained our independence and to have brought to an end the uncertainty and speculation regarding the future ownership of Price Forbes."
