Marsh, the global insurance broker, has announced an increase in its shareholding in Marsh India Insurance Brokers Pvt. Ltd. from 49% to 92%, following the acquisition of shares from local partners, including the entire shareholding of the Rampant Trust.
The increased investment enables Marsh to more effectively meet the complex needs of firms across all sectors of the Indian economy and provide it with a platform from which it can bolster its presence in the future.
Marsh India Insurance Brokers was founded in 2003 as a joint venture between Marsh International Holdings and Rampart Trust, and was one of the first foreign brokers to be registered as a composite broker with the Insurance Regulatory and Development Authority of India (IRDAI).
Since its formation, it has grown to achieve market leadership with 18 branches across India, employing over 1,3000 professionals, and servicing over 5,500 corporate clients across all business sectors.
Alex Moczarski, Chairman of Marsh McLennan International and chairman of the board of Marsh India, commented: “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.”
David Jacob, CEO of Marsh’s Asia region, which includes India, added: “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.”
Sanjay Kedia, Country Head and Chief Executive Officer (CEO) of Marsh India, said: “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.
“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.”
