Marsh has announced the appointment of Ken Watterson, a leading Manx business and wildlife expert, to the post of non-executive director on the board of directors on the Isle of Man. In his new role with the firm Watterson will be tasked with providing its insurance broking and risk advisory business on the island with [...]
Marsh has announced that it has reached an agreement whereby it will acquire the brokerage business of Alexander Forbes (AF), subject to regulatory approvals. The business includes Alexander Forbes Risk Services (AFRS), in addition to a number of local operations throughout sub-Saharan Africa in countries such as Botswana and Namibia. The deal is expected to [...]
Marsh has formed a global claims practice in a move aimed at better supporting clients with claims worldwide. David Pigot, head of claims for the intermediary’s international division and EMEA region, has been named global head of claims and will lead the new practice from London. Mr Pigot joined Marsh in 2004 and has more [...]
Marsh, the global risk adviser and insurance broker, has announced that it has appointed Peter Lundberg as the new CEO of Marsh Finland. Lundberg will succeed outgoing Marsh Finland CEO Toivo Makynen, who retires at the end of September. Lundberg joined the firm 10 years ago, and during his decade with Marsh has occupied a [...]
Insurance broker and risk advisor Marsh has announced the appointment of Henrik Larsen as the new chief executive officer of Marsh Denmark. Larsen succeeds Jens Brandum, who is parting ways with the company next month to pursue other avenues of opportunity. Prior to his latest appointment Larsen was Marsh Denmark’s Head of Business Development and [...]
The overall global insurance market remains well capitalised and generally competitive, despite major natural catastrophe losses in the second-quarter, according to Marsh’s Second Quarter 2011 Insurance Market Update. However, insurers are being more selective in the capital they deploy, with some withdrawn from catastrophe affected regions and loss-making sectors of business. As a result, accounts [...]
Mining companies pursuing avenues of opportunity beyond their home borders are faced with a range of new challenges and risks. To help mining firms cope with the new challenges they face, Marsh has announced the formation of a new Global Mining Practice which will benefit from the firm’s global expertise and experience in the sector. [...]
Marsh has been named the Insurance Broker of the Year at the St Nick North West Turnaround Awards. The Awards, held in Manchester’s Museum of Science and Industry, were given after voting by insolvency and turnaround professionals. Marsh was recognised for its Private Equity and Mergers & Acquisitions (PEMA) Practice and Insolvency Practice, provided to [...]
Marsh is concerned that businesses are not adapting to climate change risks quickly enough, and wants to see more firms adopt a proactive approach to assessing and managing the risks associated with a more volatile climate. According to the broker, the impact of recent extreme weather events and natural catastrophes highlight how business continuity plans [...]
Insurance broker and risk adviser Marsh has won the Outstanding Broker Team of the Year at the Insurance Times Claims Excellence Awards. The award ceremony, which was held in London, also saw UK Claims Leader Barry Jones recognised as Outstanding Broker Individual of the Year. Jones described the night as a superb result for the [...]
Marsh has formed a global power practice which the broker says will better assist clients in managing risks associated with infrastructure projects in both emerging and developed economies. Singapore-based Philippe Du Four, leader of the power and utility sector of Marsh’s infrastructure practice in Asia, becomes chairman of the new practice, in addition to his [...]
Brian Duperreault, president and chief executive officer of global professional services firm Marsh & McLennan Companies, has opened the new Manchester office of subsidiaries Marsh and Mercer. The new office came about after an announcement last year that the two firms were to consolidate their Manchester operations into a single location. Duperreault described the move [...]
Despite recent natural catastrophes, conditions remain favourable for most energy insurance buyers, Marsh reports. According to the broker, negotiations for many buyers have become more difficult, as underwriters show greater price discipline and request more data from insureds, and rates have risen for some segments of the market. However, most buyers continue to benefit from [...]
Chaucer Syndicates has announced leadership of a new charterer’s default insurance product offered by Marsh, which includes specialist wordings developed by both parties. In the event of a financial default under the charter party, the insurance provides protection for the shipowner’s income, including provision for the impact of changes in spot charter rates. As the [...]
Marsh has developed an insurance contract that provides coverage for project companies and operators in the solar, or photovoltaic, renewable energy sector. According to the broker, worries about industry stability mean that banks currently only give limited recognition to long-term guarantees provided by solar module manufacturers, as a basis for approving financing. Typically, manufacturers provide [...]
Global organisations are largely failing to understand the intellectual property (IP) risks facing their organisations, according to Marsh. In the 2011 Intellectual Property Survey undertaken by Marsh and Liberty International Underwriters, three-quarters of respondents were unable to quantify the proportion of their firms’ value that could be attributed to intangible assets or goodwill. This is [...]
With ship owners becoming increasingly concerned about the financial consequences of a rise in ship charterers filing for bankruptcy, Marsh has announced the launch of Charter Default. Backed by insurers and a leading investment bank, the offering provides a mix of fixed recovery guarantee and credit insurance, tailored to the shipowner’s requirements. The product covers [...]
Insurance broker and risk adviser Marsh has announced that it has reached an agreement with INSIA a.s. (INSIA), the insurance broker network headquartered in Prague, to help promote the firm’s growth in the Czech Republic and other European countries. As part of the agreement Marsh will acquire a 15% stake in INSIA, which has over [...]
Marsh is warning that organisations need to prepare for the possibility of extended disruption to global supply chains resulting from the earthquake and tsunami in Japan. The broker’s head of supply chain risk management, Gary Lynch, explains: “Given that the immediate priorities in Japan are likely to be social not economic, the aftershocks to the [...]
