Insurance broker Marsh, Inc., said it is considering selling two of its wholesale brokerage units.
In a statement, Marsh, a subsidiary of the services firm Marsh & McLennan Companies based in New York, said it has hired Banc of America Securities, LLC, to act as its financial advisor to explore strategic alternatives for its wholesale broking operations, Crump Group, Inc., based in Dallas, Texas, and Price Forbes Limited, based in London, England.
Earlier this month, American Wholesale Insurance Group purchased Crump's New Jersey wholesale brokerage operation.
In February, Willis sold Stewart Smith to American Wholesale, and Aon announced it was looking into alternatives for its Swett & Crawford wholesale unit.
Jay Gelb, a financial analyst with Prudential, said in a report that the sale was not surprising in light of Aon's and Willis's actions. The sale, he said, would have a 1 to 2 cent-per-share impact on the company's stock.
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