Daily Insurance Industry News
Daily Insurance Industry News
Tuesday 14th of August 2018
April 1, 2010

Marsh acquires HSBC Insurance Brokers

by Richard Kilner

Story link: Marsh acquires HSBC Insurance Brokers

Insurance broker and risk adviser Marsh has announced that it has completed the acquisition of HSBC Insurance Brokers Limited (HIBL) in the UK and key markets in the Middle East.

HIBL, a wholly owned subsidiary of HSBC Bank plc, was acquired for £135m following an announcement on 18 December last year.

At the same time, Marsh has become a Preferred Strategic Partner to HSBC, allowing it to furnish private and corporate clients referred via HSBC with insurance broking and risk management services.

For a transition period ending at the year’s close HIBL will operate as Marsh Brokers Limited (MBL) in the UK and elsewhere.

MBL is based in London and provides risk intermediary and risk advisory services internationally, enjoying strong market positions in a number of sectors including Education, Marine and Specie.

Marsh UK’s CEO, Martin South, has said that the acquisition enables the firm to increase its presence in a number of high growth markets, adding that he warmly welcomed the MBL team to Marsh.

MBL employs around 1,400 and operates from 30 offices throughout the UK, Middle East and Asia.


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