Marsh Increases Stake in Marsh India From 49% to 92%
December 23 2021 - 7:00AM
Business Wire
Marsh, the world’s leading insurance broker and risk advisor,
today announced that it has increased its shareholding in Marsh
India Insurance Brokers Pvt. Ltd. from 49% to 92%. The enhanced
investment will enable Marsh to more effectively meet the
increasingly complex needs of companies across all sectors of the
fast-growing Indian economy and provide a platform from which it
can further strengthen its presence in the future.
Alex Moczarski, Chairman of Marsh McLennan International and
chairman of the board of Marsh India, said: “This is an exciting
investment for Marsh that will further our leadership position in
one of the world’s most dynamic markets. For our clients, growing
supply chain challenges, a heightened cyber threat, and the impacts
of the pandemic mean that they need the very best risk and
insurance advice to help them navigate an increasingly complex risk
landscape. The decision to raise our stake in Marsh India reflects
the success we have had, and our ongoing commitment, in bringing
the very best in global expertise to support clients in India.”
Formed in 2003 as a joint venture between Marsh International
Holdings Inc. and India-based Rampart Trust, Marsh India was one of
the first foreign insurance brokers to be registered as a composite
broker with the Indian insurance regulator, the Insurance
Regulatory and Development Authority (IRDAI). Since then, it has
grown to achieve market leadership with 18 branches across India,
employing more than 1,300 professionals, and servicing over 5,500
corporate clients across all business sectors.
As part of the transaction, which has been approved by the
IRDAI, Marsh has acquired the share from local partners, including
the entire shareholding of the Rampart Trust.
David Jacob, CEO of Marsh’s Asia region, which includes India,
said: “The increased stake in Marsh India will further our
leadership across the Asia region. With a long-established
reputation for delivering excellent client service, and developing
data-driven risk solutions and advisory services, Marsh India is
already the nation’s broker of choice. As the local economy is
forecast to continue its high-growth trajectory, we will now
further develop our local client offering especially in sectors
providing significant opportunity such as healthcare,
infrastructure and construction, technology, and the sharing
economy.”
“Since its inception, Marsh India has been dedicated to putting
clients’ interests first, promoting international best practices,
all underlined by a commitment to the highest levels of integrity,”
added Sanjay Kedia, Country Head and CEO of Marsh India. “This
decision reflects Marsh’s confidence and commitment to helping
companies across India meet the challenges they face as they
recover from the pandemic and thrive.”
About Marsh Marsh is the world’s leading insurance broker
and risk advisor. With around 40,000 colleagues operating in more
than 130 countries, Marsh serves commercial and individual clients
with data-driven risk solutions and advisory services. Marsh is a
business of Marsh McLennan (NYSE: MMC), the world’s leading
professional services firm in the areas of risk, strategy and
people. With annual revenue over $19 billion, Marsh McLennan helps
clients navigate an increasingly dynamic and complex environment
through four market-leading businesses: Marsh, Guy Carpenter,
Mercer and Oliver Wyman. For more information, visit
marshmclennan.com, follow us on LinkedIn and Twitter or subscribe
to BRINK.
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version on businesswire.com: https://www.businesswire.com/news/home/20211223005077/en/
Niladri Bhattacharya +91 9873086759
niladri.bhattacharya@marsh.com
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