MUMBAI, India–(BUSINESS WIRE)–Dec 23, 2021–
Marsh, the world’s main insurance coverage dealer and threat advisor, right now introduced that it has elevated its shareholding in Marsh India Insurance Brokers Pvt. Ltd. from 49% to 92%. The enhanced funding will allow Marsh to extra successfully meet the more and more advanced wants of firms throughout all sectors of the fast-growing Indian financial system and supply a platform from which it will probably additional strengthen its presence in the long run.
Alex Moczarski, Chairman of Marsh McLennan International and chairman of the board of Marsh India, stated: “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 three way partnership between Marsh International Holdings Inc. and India-based Rampart Trust, Marsh India was one of many first international insurance coverage brokers to be registered as a composite dealer with the Indian insurance coverage regulator, the Insurance Regulatory and Development Authority (IRDAI). Since then, it has grown to obtain market management with 18 branches throughout India, using greater than 1,300 professionals, and servicing over 5,500 company purchasers throughout all enterprise sectors.
As a part of the transaction, which has been permitted by the IRDAI, Marsh has acquired the share from native companions, together with your entire shareholding of the Rampart Trust.
David Jacob, CEO of Marsh’s Asia area, which incorporates India, stated: “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 main insurance coverage dealer and threat advisor. With round 40,000 colleagues working in greater than 130 international locations, Marsh serves industrial and particular person purchasers with data-driven threat options and advisory providers. Marsh is a enterprise of Marsh McLennan (NYSE: MMC), the world’s main skilled providers agency in the areas of threat, technique and folks. With annual income over $19 billion, Marsh McLennan helps purchasers navigate an more and more dynamic and complicated atmosphere by means of 4 market-leading companies: Marsh, Guy Carpenter, Mercer and Oliver Wyman. For extra data, go to marshmclennan.com, observe us on LinkedIn and Twitter or subscribe to BRINK.
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CONTACT: Niladri Bhattacharya
+91 9873086759
niladri.bhattacharya@marsh.com
KEYWORD: INDIA ASIA PACIFIC
INDUSTRY KEYWORD: SECURITY DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY INSURANCE
SOURCE: Marsh International Holdings Inc.
Copyright Business Wire 2021.
PUB: 12/23/2021 07:00 AM/DISC: 12/23/2021 07:01 AM
http://www.businesswire.com/news/home/20211223005077/en
Copyright Business Wire 2021.