"This has been another excellent year for our firm – one marked by both innovation and an ongoing transformation designed to bring the best in transactional capabilities and risk advice to our clients around the world," said Mr. Storms.
After creating a new half-billion dollar Alternative Collateral Program in December for self-insured employers in North Carolina, Marsh began the new year by introducing Marsh Risk Innovations (MaRI) through MMC Securities Corp., a first-of-its-kind insurance facility designed to provide a significant amount of additional capacity to the depleted property catastrophe insurance market. Two weeks later, Marsh was granted China’s first Wholly-Owned Foreign Enterprise insurance broking license, benefiting its clients doing business there by substantially expanding the scope of Marsh's services in China.
As the year progressed, Marsh could be found in Dubai, hosting the world's first conference focused on risk issues for National Oil Companies. It could also be seen strengthening its ability to serve clients in the expanding middle market, or creating new industry practices to meet an even broader range of client needs, ranging from Real Estate to Renewable Energy.
"Marsh's record of innovation and service on behalf of clients is unmatched in the insurance brokerage industry," said Philip V. Moyles, Jr., Executive Vice President of the firm. "Our expanding menu and footprint reflects our commitment to delivering the kind of world class solutions our clients expect from us in global markets – and this will only continue to strengthen."
Reactions is a leading monthly magazine that provides detailed, global coverage of the insurance and reinsurance industries. The magazine explores how the world's businesses, insurers and reinsurers cope with and transfer risk, and looks at the concerns facing senior executives at insurance and reinsurance companies.
Marsh, the world's leading insurance broker and risk advisor, has 26,000 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 approximately 54,000 employees and approximately $10.5 billion of annual revenues.