Marsh India gets licence to work as insurance broking company

Mumbai: Marsh Inc of the US, one of the biggest insurance broking firm in the world, has received the licence for operating as an insurance broking company in India. It has already set up a joint venture in India, Marsh India Pvt Ltd, with an Indian company, Rampart.

Marsh India officials say their company is the first foreign broking firm to get an insurance broking licence in India.

The company plans to start business soon, says Marsh India managing director William D Jones. “To begin with Marsh will concentrate on indigenous companies, public entities and multinational companies. Our focus will be on large indigenous companies engaged in construction, power, oil and gas and petrochemicals and financial services.“