Marsh Takes Over JV in India
Posted on 12/28/2021
Marsh is a business of Marsh McLennan (NYSE: MMC). Marsh expanded its shareholding in Marsh India Insurance Brokers Pvt. Ltd. from 49% to 92%. 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, Marsh India 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.
