Marsh & McLennan nears $450M deal for Australia’s Honan Insurance (NYSE:MMC)

Marsh & McLennan (NYSE:MMC) is nearing an acquisition of Australia’s Honan Insurance Group.

Marsh (MMC) and TA Associates, Honan’s private equity owner, are working on completing a deal that would value the insurer at about A$700 million ($448 million), according to a Bloomberg report on Sunday, which cited people familiar with the matter. A transaction may be announced as soon as Monday, though talks could still fall apart.