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Private equity backed-TIH has started a process to sell its retail broker arm, McGriff.
Arthur J Gallagher (NYSE:AJG), Marsh McLennan (MMC) and WTW (WTW) are all in talks with TIH about bids that could value the business in the $8 billion to $9 billion range, according to a report from The Insurer on Tuesday. Insurance Insider also has a report that the price tag could be $7 billion+.
The potential sale comes after Truist Financial (TFC) earlier this year sold its remaining stake in its insurance business, Truist Insurance Holdings, to an investor group led by private equity firms Stone Point Capital and Clayton, Dubilier & Rice in a deal that valued the business at $15.5 billion.
