Insurance company Marsh is buying Franco & Acra Tecniseguros, following its purchase of a Peruvian insurer.
Franco & Acra, headquartered San Domingo, Dominican Republic, is an insurance agency. Once the deal closes, the target will operate as Marsh, Franco & Acra. The transaction strengthens Marsh’s position in the Dominican Republic. Terms of the deal were not disclosed.
In May, Marsh announced it would buy Rehder y Asociados Group, an insurance broker based in Lima.
Marsh’s acquisitions are indicative or a larger consolidation trend in the insurance industry. Other recent transactions include Scot Global Life Americas Holding Inc.’s purchase of Generali U.S. Holdings Inc. for about $750 million, and Tower Group International Ltd.’s (Nasdaq: TWGP) American Safety Reinsurance Ltd. buy.
For more on insurance M&A, see “Insurance Industry Experiences M&A Uptick.”