JPMorgan analyst Jimmy Bhullar assumed coverage of Marsh & McLennan with an Overweight rating and $118 price target. The analyst's long-term outlook for the insurance brokerage business is positive, and he considers Marsh & McLennan the best positioned firm in the market.

Marsh McLennan Agency, a subsidiary of Marsh, announced that it has entered into a definitive agreement to acquire Fisher Brown Bottrell Insurance, Inc. from Trustmark National Bank. Headquartered in Jackson, Mississippi, FBBINSURANCE is one of the top five largest bank-affiliated insurance agencies in the country and one of the largest agencies in the Southeast. Under terms of the agreement, Marsh McLennan Agency will pay $315.9 million in cash, subject to customary purchase price adjustments, to acquire FBBINSURANCE. The transaction is pending regulatory approval and standard closing conditions, and is expected to close during the second quarter of 2024.