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Marsh agrees to buy mid-market Brazilian broker

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Marsh L.L.C. said that it has reached an agreement to acquire AD Corretora de Seguros.

Terms were not disclosed for the deal, which is expected to close later this month.

Bauru, Brazil-based AD Corretora de Seguros is an insurance broker that specializes in mid-market business in the sugar refining, agri-business and infrastructure sectors. The brokerage has offices in Ribeirão Preto, Araçatuba and São Paulo, Marsh said in a Tuesday statement.

“The acquisition of AD Corretora de Seguros further demonstrates Marsh’s commitment to expanding our footprint in Latin America, and Brazil in particular, to meet the evolving needs of businesses across the region,” Marsh President John Doyle said in the statement.