Marsh #1 International Broker Again in China

2009-02-16 10:21 1388

BEIJING, Feb. 16 /PRNewswire-Asia/ -- Marsh, the world's leading insurance broker and risk advisor, has been ranked once again as the number one international broker in China by the China Insurance Regulatory Commission (CIRC). This is the second year in a row Marsh has achieved the top position among foreign brokers.

(Logo: )

The CIRC ranked China's top 20 intermediaries based on annual invoiced revenue in its 2008 Insurance Intermediary Market Report released on 11 February 2009.

Marsh was ranked number one of all international brokers and number four of all brokers in China, with invoiced revenue of RMB134.03M (US$19.62M), a growth of 43% over previous year and corresponding to 5.06% market share. Total invoiced revenue for all brokers grew 31.25% to RMB2.65B (US$378.99M).

Marsh Greater China CEO, Paul Wilkins, said: "We are very pleased with this achievement. Marsh is committed to become the best insurance broker and risk advisor in the China market, dedicated to the healthy development of China insurance industry. This honour truly belongs to our nearly 180 talented people across China, who work tirelessly to help clients manage risk in an increasingly uncertain environment.

"Marsh's long-term strategy in China is evidenced by our nearly 30-year history and the recent opening of the Liaoning Branch in Dalian to service northern China. Marsh was also awarded China's first ever Wholly-Owned Foreign Enterprise (WOFE) insurance broking license in January 2007.

"We look forward to continued expansion in 2009, and helping clients turn risk into opportunity and competitive advantage during these uncertain times, where risk management is top priority."

As the world's leading risk advisor and insurance broker, Marsh delivers risk management and insurance solutions to both domestic and foreign companies in China across all industries, helping companies turn risk in to a competitive advantage.

Exchange Rate: 6.83 RMB = 1 USD

Notes to Editors

Other international brokers include classes of business in their revenues which is not included in the Marsh figures. This includes employee benefits, marine and reinsurance revenues. Marsh's sister companies Guy Carpenter and Mercer book revenues for reinsurance and employee benefits business respectively for MMC in China.

About Marsh

Marsh, the world's leading insurance broker and risk advisor, has 24,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with more than 55,000 employees and annual revenue exceeding $11 billion. MMC also is the parent company of Guy Carpenter, the risk and reinsurance specialist; Kroll, the risk consulting firm; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. MMC's stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC's Web Site is . Marsh's Web site is .

Source: Marsh
Keywords: Food/Beverages