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Press release

Marsh completes previously announced acquisition of Honan Insurance Group

12/01/2023

Creates leading corporate risk and strata insurance offering in Australia and New Zealand   

Sydney, 1 December 2023 – Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan (NYSE: MMC), today announced that it has completed its previously announced acquisition of Honan Insurance Group, a leading specialist insurance broker in the areas of corporate risk, employee benefits, and strata and real estate insurance.

The acquisition, which was announced in August, enhances Marsh’s market-leading position in the region’s corporate market segments and will offer significant benefits to clients of both companies.

Founded in 1964, Honan’s key offerings span corporate risk advisory and employee benefits. It also specialises in strata and real estate insurance services, offering residential, commercial and industrial, and build to rent advice to large residential buildings (strata committees), agents, and landlords in Australia and New Zealand. 

Andrew Fluitsma, previously CEO of Honan, today becomes Marsh’s Pacific Head of Corporate and Commercial. From today Marsh and Honan will begin bringing colleagues together in Australia, New Zealand, Singapore and Malaysia, with plans to complete co-location within the first quarter of 2024.

Josh Roach, who will become President of Marsh Pacific on 1 January, said: “This is an exciting new chapter; it’s about bringing two great businesses together, harnessing their respective strengths, and maximising the possibilities we will be able to achieve together for our clients, colleagues, and communities.”

Mr Fluitsma said: “I’m incredibly pleased about our two organisations joining together, aligned around our shared values and ambitions, and enhancing the expertise and innovations we offer to the business community.” 

About Marsh

Marsh is the world’s leading insurance broker and risk advisor. With more than 45,000 colleagues advising clients in over 130 countries, Marsh serves commercial and individual clients with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. With annual revenue of $23 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. For more information, visit marsh.com, and follow us on LinkedIn and X.

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“Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”