Marsh recently 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.