Marsh acquires São Paulo broker to expand LatAm footprint
Marsh has reached an agreement to acquire AD Corretora de Seguros, an insurance broker in the state of São Paulo.
AD Corretora specialises in mid-market business with particular expertise in the sugar refining, agri-business and infrastructure sectors.
The transaction is expected to close later in December, although terms were not disclosed.
“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."
Eugenio Paschoal, president and CEO for Marsh Brazil, commented: “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.
“Over many years, AD Corretora has built a reputation for providing excellent client service. By combining our two organisations 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 and 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.”
