Marsh has concluded the acquisition of Honan Insurance Group, initially announced in August
Founded in 1964 and headquartered in Melbourne, Honan is a specialised insurance broker with operations throughout Australia and New Zealand, recognised for its expertise in corporate risk, employee benefits, and insurance services for strata and real estate.
In a company release, Marsh said that Honan has a “distinct specialisation” in the strata and real estate lines of business and that its approach has “provided invaluable counsel to diverse strata committees, agents, and landlords managing residential, commercial, and industrial properties, as well as those involved with build to rent developments across Australia and New Zealand.”
The acquisition will strengthen Marsh’s presence in key corporate market segments within ANZ and sees Andrew Fluitsma, CEO of Honan, step into the role of Marsh’s Pacific Head of Corporate and Commercial.
The integration process involving Marsh and Honan teams across Australia, New Zealand, Singapore, and Malaysia, has already begun with aims for completion by the first quarter of 2024.
Josh Roach, who will be promoted to President of Marsh Pacific on January 1, commented, “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.”
Andrew Fluitsma shared a similar sentiment regarding the merger, stating, “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.”
