CHENNAI: Insurance broker and risk advisor Marsh has increased its shareholding in its Indian arm Marsh India Insurance Brokers from 49% to 92%. Formed in 2003, Marsh India is the joint venture between Marsh International Holdings Inc. and India-based Rampart Trust. With the approval of Insurance Regulatory and Development Authority (IRDAI), Marsh has acquired the share from local partners, including the entire shareholding of the Rampart Trust.
Alex Moczarski, chairman of Marsh McLennan International and chairman of the board of Marsh India, said, “This investment will further our leadership position in one of the world’s most dynamic markets.” By raising its stake in the Indian arm, the firm aims to bring in the global expertise to support clients in India and will further our leadership across the Asia region. — Mamtha.Asokan

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