Marsh Increases Stake in Marsh India from 49% to 92%.
MANews-(C)2009-2021
US-based insurance broker and risk advisor Marsh has increased its shareholding in its Indian JV Marsh India Insurance Brokers Pvt. Ltd. from 49% to 92%, the company said.
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...
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