Marsh to Acquire Peru-Based Rehder y Asociados Group
Combined Entity to be Leading Insurance Broker and Risk Adviser in Fast-Growing South American Economy
NEW YORK--(BUSINESS WIRE)-- Marsh, a global leader in insurance broking and risk management, today announced that it has reached a definitive agreement to acquire the Rehder y Asociados Group, the leading insurance advisor in Peru. This business includes the insurance broker Rehder y Asociados and employee health and benefits specialist Humanasalud. Terms of the transaction were not disclosed.
The transaction, which is anticipated to close in the second quarter of 2013, will give Marsh a clear leadership position in one of South America's best-performing economies. The combined entity, which will operate under the name Marsh Rehder, will bring together long-established and highly regarded operations of both firms to deliver the fullest range of solutions, resources, and placement capabilities to clients of all sizes in Peru.
Peter Zaffino, President and CEO of Marsh Inc., said: "Peru offers one of the most dynamic business environments in South America, and I am excited by the opportunity to serve a broader range of clients here. Rehder's long reputation for excellent client relationships, when combined with our local, regional, and global capabilities, will provide a compelling offering for companies in this fast-growing economy. Together with Rehder's respected management team and colleagues, we will bring the full range of Marsh's capabilities to their impressive range of industrial, commercial, and personal clients."
Javier Rehder, CEO of Rehder, who will become Deputy CEO of the combined Marsh Rehder, said: "By aligning the strengths that Rehder has built up over many years with Marsh's strong team in Peru, we will present the strongest risk and insurance offering in the local market. Together, we will provide a broader offering and ensure that clients can access the full range of risk solutions to suit their needs."
Juan Carlos Rizo Patron, CEO of Marsh Peru, who will be CEO of Marsh Rehder, added: "This combination is very positive news for the clients and colleagues of both companies as well as the risk and insurance industry in Peru. Clients will benefit from the extensive experience brought together in the combined business; our colleagues will enjoy expanded career opportunities; and our full range of services and solutions will give greater options to local companies of all sizes."
Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYS: MMC) , a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital. With over 53,000 employees worldwide and annual revenue exceeding $11 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.
About Rehder y Asociados Group
Rehder, the leading insurance broker in Perú for the last eight years, has built a strong team of professionals who deliver a highly specialized service to corporate Peruvian and international enterprises in Perú. Their 10 principal executives, partners of the firm, and the rest of the 250 colleagues have extensive experience in the insurance advisory field, which is very much appreciated by their clients.
With more than US$30 million in revenues, Rehder has a 17% share of the broking business in Peru and its employees are recognized by the insurance market for their technical expertise as insurance brokers.
Rehder's commitment to service has enabled its team to develop and offer important aggregate value, often exceeding clients' needs and expectations. They have also built strong relationships with clients through deep risk analysis, prevention advice and efficient insurance placement, as well as providing efficient and timely claims servicing and developing a sophisticated interactive on-line system. Their holistic approach includes risk engineering, enterprise risk management, health and safety for employees and wellness programs.
KEYWORDS: United Kingdom United States Europe North America South America Peru New York
The article Marsh to Acquire Peru-Based Rehder y Asociados Group originally appeared on Fool.com.
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