Marsh has emerged as the likeliest purchaser after beating out other rivals in the industry and buyout firms, according to people familiar with the matter. While a transaction is likely to be agreed imminently, the companies may have to clear regulatory approvals. Credit: Feodora/Adobe Stock “This transaction is good news for both our clients and colleagues who will benefit from the combination of our experience with Marsh’s global resources and solutions,” Andrew Fluitsma, Honan CEO , said in a release. Credit: Feodora/Adobe Stock

UPDATE 8/21/2023, 9:00 AM (EST): Marsh reported it is moving to acquire 100% of the outstanding share capital of Honan Insurance, including 80% of the shares held by TA Associates. Terms of the deal, which is expected to close later this year, were not disclosed.

Upon closing, Andrew Fluitsma, Honan CEO, will report to Nick Harris, Marsh’s CEO for the Pacific region.

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