Marsh to acquire DR-based firm
Marsh is to acquire Dominican Republic-based Franco & Acra Tecniseguros, moving to become a leading broker and risk advisor in the Caribbean.
The company said yesterday it has reached a definitive agreement to acquire Franco & Acra Tecniseguros, the leading insurance adviser in the Dominican Republic and Marsh’s long-standing local correspondent broker. Terms of the transaction were not disclosed.
The transaction, which is anticipated to close in the second quarter of 2013, will give Marsh a leadership position in one of the Caribbean’s largest economies.
Peter Zaffino, president and CEO of Marsh said: “The Dominican Republic has one of the strongest economies in the Caribbean, and I am excited by the opportunity to offer companies there the full range of Marsh’s regional and global capabilities.