MARSH acquires majority stake in INSIA

3 October 2013 — Adina TUDOR
marsh_mclennan_nouOn October 3rd, MARSH announced that it had acquired a majority stake in INSIA, the insurance broker network headquartered in Prague, Czech Republic. This acquisition further strengthens the partnership between the firms in the Czech Republic and Slovakia and supports the growth of its network across Central and Eastern Europe (CEE). MARSH now holds a 60% stake in INSIA.

With more than 1.400 network partners across 310 offices throughout the Czech Republic and Slovakia, INSIA is ranked among the top brokers in those countries. With its unique operating and IT platforms, it is a market leader in commercial insurance for small and medium-sized firms and personal lines.

"Today's announcement is testament to the success of our relationship with INSIA over the past two years. By acquiring a majority stake, we aim to assist more fully in the growth of the INSIA network internationally. This step is part of Marsh's strategy of building its presence in the SME segment globally", Richard Radford, Managing Director of MARSH in CEE &the Commonwealth of Independent States declared.

Ivan SPIRAKUS, CEO of INSIA, added: "During the two years of partnership between INSIA and MARSH, we have experienced many examples of mutually beneficial business cooperation which have delivered tangible benefits for INSIA network members. I believe that all members of the INSIA network will benefit from an even closer relationship with Marsh"

Both Marsh and INSIA will continue to operate as separate entities in the Czech Republic and Slovakia. Outside these countries, INSIA's operations will trade as INSIA Europe.

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