Marsh To Acquire Torrent Technologies; Terms Undisclosed - Quick Facts

(RTTNews) - Marsh, a wholly owned unit of Marsh & McLennan Companies Inc. (MMC), Monday said it will buy Torrent Technologies, Inc., a service provider in the flood insurance industry. The company did not reveal the terms of the deal.

Peter Zaffino, Chief executive of Marsh, said in a statement, "Torrent Technologies is widely recognized as having the most advanced and unique suite of cloud-based technology solutions that interface with WYO insurers and the NFIP, including real-time, paperless claims handling and web-based pricing tools," "We are excited about the opportunities this partnership presents for us as we look to further innovate in the flood insurance segment," he added.