Marsh is a global leader in insurance broking and innovative risk management solutions. Marsh’s 30,000 colleagues advise individual and commercial clients of all sizes in over 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue over US$14 billion and nearly 65,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms. In addition to Marsh, MMC is the parent company of Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.
The History of Marsh
Marsh has a rich heritage, spanning 145 years. Over our long and distinguished history, we have built up an incredible knowledge base to address tomorrow’s most challenging risks.
Under the name Marsh & McLennan Companies, Marsh has existed since 1871 and has been a pioneer in risk and insurance services for more than 140 years. Throughout, we have demonstrated our industry leadership in numerous ways.
- We introduced the concept of the insurance broker acting as a buyer of insurance on behalf of clients, rather than as a seller of insurance. Today, we continue to add new value for clients through innovative insurance programmes and efficient placement processes.
- We pioneered the concept of self-insurance, with associated risk management actions to mitigate exposures. In 2009, our Risk Consulting Practice in the UK was named as the best risk management service provider in the European Risk Management Awards.
- We were the first broker to send risk experts to a catastrophe site - San Francisco in the aftermath of the earthquake. We are leaders today in evaluating catastrophe risk for clients and using the latest catastrophe modelling techniques.
- We arranged the first 'space-bound' life insurance coverage for Mercury astronauts. Currently, Marsh has the largest Aviation account world-wide.
- We introduced a suite of merger and acquisition solutions covering tax opinions, representations and warranties, and litigation buyouts to facilitate transactions and enhance their value. In 2005, our market-leading Private Equity and Mergers & Acquisitions (PEMA) Practice were advisers to over 400 deals in Europe.
In the UK, Marsh has grown both organically and through strategic acquisitions that have strengthened our expertise and resources.
- In 1980, Marsh acquired C.T. Bowring & Co in the UK.
- In 1997, we merged with Johnson & Higgins, further strengthening the Company's leadership in risk and insurance services.
- In 1998, we acquired the UK-based Sedgwick Group.
- In 2010, we acquired HSBC Insurance Brokers.
- In 2014, Marsh acquired Aberdeen-based Central Insurance Services.
- In 2015, Marsh acquired Leeds-based SME Insurance Services, considerably extending its reach across the UK's small and medium-sized enterprise sector.
- In 2016, Marsh acquired Jelf Group.
Chartered Insurance Brokers
Marsh is proud to have been awarded the prestigious title ‘Chartered Insurance Brokers’ by the Chartered Insurance Institute (CII).
This title is only awarded to firms committed to developing and maintaining the knowledge and capability of their colleagues so that the service and advice they deliver is of the highest quality and standard.
Marsh also follows a demanding code of ethical practice The Greater Good, with regular colleague awareness events to ensure we work in an ethical manner that places the clients’ interests at the heart of everything we do.
Chartered status – granted by the Privy Council – is the industry’s gold standard for insurance brokers, which fewer than 5% of all regulated brokers have achieved*, and imposes an obligation to ensure that the advice, service, and ongoing support to you is:
- Of the highest quality.
- Based solely on your researched needs.
- Provided by someone operating within their level of competency.
In addition to Marsh holding chartered status at corporate level, many of our colleagues also hold chartered status as individuals. You are entitled at all times to request that an individual with chartered status handles a particular enquiry, or a list of colleagues with the relevant competency, by emailing firstname.lastname@example.org.
Marsh meets its obligations in many ways including:
- Our commitment to the technical and professional development of colleagues, through professional qualifications, for example.
- Ensuring all colleagues who deal with clients belong to the industry’s professional body, the CII, and adhere to the CII’s Code of Ethics, which is enforced through disciplinary sanctions.
- Adhering to the CII’s continuing professional development requirements, ensuring our colleagues keep their knowledge and skill-set up to date.
A chartered title is a commitment to an overall standard of customer excellence and professionalism.
When Marsh achieved Chartered status, Dr Alexander Scott, CEO of the CII said: “We have been impressed by Marsh’s dedication to developing their colleagues’ capabilities. As the first of the large, global insurance brokers to achieve chartered broker status, Marsh shows that organisations of all sizes believe that a commitment to professionalism can create a clear competitive advantage. Today’s announcement is an important milestone to building confidence and trust in the insurance sector as a whole.”
* Based on a comparison between the CII Chartered Brokers register and the Financial Services register of regulated intermediaries, February 2014.