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Marsh on Thursday announced it has increased its shareholding in Marsh India Insurance Brokers to 92 per cent from 49 per cent.
“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,” the New York-based insurance broking and risk management company said in a statement.
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As part of the transaction, which the IRDAI has approved, Marsh has acquired the share from local partners, including the entire shareholding of the Rampart Trust.
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Alex Moczarski, Chairman of Marsh McLennan International and chairman of the Marsh India board, said, “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.”
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