Marsh has bought the Australian insurance broking business of Heath Lambert.
The deal involves Heath Lambert Australia Pty, which operates in Australia, New Zealand, and Papua New Guinea.
Heath Lambert said the sale was part of a strategic review of its business, with the objective of simplifying the company and allowing the group to concentrate resources in its strongest business areas.
Chief executive Ian Martin, said: “The planned sale of selected businesses is a further step in the reshaping of Heath Lambert.
“Through our London office, we will continue to broke business for clients from Australasia.
“The group has excellent skills and market positions in a significant number of areas of the global insurance broking market. In order to achieve strong future growth the new management team is focusing the group's financial and staff resources on these areas of strength.”
Marsh Pacific region chairman John Richardson said: “The services and capabilities of Marsh and Heath Lambert, particularly in the specialty insurance broking areas, are highly complementary in the Pacific region.
“This transaction will provide expanded services and solutions to the local, regional and multinational clients of both companies. In particular, it will mean greater benefits for middle market companies.”
