As part of its strategy to strengthen services for mid-sized businesses with international operations, Marsh has acquired the Milan-based insurance brokerage Fontana Rava-Toscano & Partners (FRT).
FRT was founded in 1992 by its current partners along with Giancarlo Fontana Rava, specialises in property and casualty insurance brokerage and risk consulting. The firm primarily serves mid-sized companies across sectors such as industrial and manufacturing, financial institutions, and aviation. It also offers services related to employee benefits and financial risks.
Following the acquisition, FRT will now operate under the name Marsh FRT. Its leadership team—Stefano Toscano, Paolo Vigo, Edoardo Poss, and Nicolò Fontana Rava—will remain in place and will focus on expanding services for middle-market clients.
They will also work closely with Marsh McLennan’s other businesses: Guy Carpenter, Mercer, and Oliver Wyman, to offer a wider range of risk and advisory solutions.
The acquisition comes as Marsh McLennan reported strong financial results for the fourth quarter and full-year 2024, achieving robust revenue growth and record-high acquisitions. For the full year, Marsh McLennan reported revenue of $24.5 billion, an 8% increase from 2023, with underlying revenue growth of 7%.
Flavio Piccolomini, CEO of Marsh McLennan International, said the acquisition strengthens Marsh’s ability to deliver specialised solutions to Italian businesses.
"FRT is widely recognized for its exceptional reputation, expertise and consulting skills, and the addition of its highly complementary capabilities will enable us to deepen the specialist expertise we provide to clients across Italy," said Piccolomini.
Meanwhile, FTR partner, Stefano Toscano said that the transaction allows clients to benefit from Marsh’s global resources while maintaining the firm’s industry expertise.
"As a result of this transaction, our clients will benefit from the combination of our long-standing experience in delivering high quality, client-centric solutions, while offering enhanced opportunities for the growth and development of our colleagues," said Toscano.
In November last year, Marsh McLennan completed the acquisition of McGriff Insurance Services for $7.75 billion, marking the largest acquisition in the company’s history.
Will this acquisition give Italian businesses better access to tailored insurance solutions? Share your thoughts in the comments below.
