Re/insurance brokerage Marsh McLennan has agreed to acquire ASPROSE Corredora de Seguros, S.A (Asprose), one of Costa Rica’s leading insurance brokers.
The transaction, which terms have not been disclosed, is expected to close later in the third quarter of 2023.
Ricardo Brockmann, CEO, Marsh McLennan, Latin America and the Caribbean, commented: “This landmark agreement is a clear signal of Marsh McLennan’s ambitious growth plans in Costa Rica.
“The combination of Asprose’s well-established operations and its respected colleagues, together with Marsh McLennan’s global solutions and services, means that we will be able to deliver even greater support to our clients throughout Costa Rica that face an increasingly complex risk landscape. This transaction, which is driven by our ambitions to invest in the region, gives us a powerful platform from which to better serve our clients.”
Founded in 1984 and based in San José, Costa Rica, Asprose provides insurance brokerage and risk advisory services, as well as comprehensive employee health and benefits solutions, to commercial organisations across the country.
On completion, Roberto Ortiz Volio, Senior Partner at Asprose, will become CEO of Marsh McLennan Costa Rica. He will report to Juan Pablo Salazar, CEO of Marsh McLennan for the Caribbean, with responsibility for leading the firm’s business in Costa Rica.
Marvin Umaña, Senior Partner at Asprose, will serve as chief financial officer and chief operating officer and Luis Castro, also Senior Partner at Asprose, will serve as Employee Benefits Leader. They will both report to Ortiz.
According to the announcement, all other Asprose colleagues are to join Marsh McLennan.
“This transaction is a natural evolution of the excellent relationship we have always had with Marsh McLennan and is great news for our clients and colleagues,” said Ortiz.
Adding: “By combining our experience with Marsh McLennan’s industry-leading risk consulting, insurance brokerage and strategic advisory solutions, we will be able to accelerate our development and widen the range of solutions and services we can offer our clients.”
On related news, Marsh McLennan Agency, a subsidiary of Marsh, has also recently announced the acquisition of SOLV Risk Solutions, LLC., and McDonald Zaring Insurance (MZI).
Founded in 2016, SOLV is an independent agency based in Austin, Texas. It provides risk management advisory services to businesses, family offices, and private equity firms across the US.
McDonald Zaring Insurance, a US full-service agency located in Walla Walla, Washington, was founded in 1932. It serves individuals and businesses across various industries and sizes, including agri-business, wineries, financial institutions, health clinics and contractors.
