Marsh, a global leader in insurance broking and risk management, today
announced that it had reached a definitive agreement to acquire
Leeds-based SME Insurance Services (SMEi), an independent broker which
provides specialist commercial insurance to small and medium-sized
enterprises across the UK. Terms of the transaction, which is expected
to close in the third quarter of this year, were not disclosed.
SMEi has developed a highly effective online and telephone-based
business model which enables it to provide clients with flexible and
comprehensive insurance solutions, tailored to their individual
requirements, regardless of size or risk profile. SMEi also operates
Broker2Broker, an online trading platform that offers independent
insurance brokers access to a wide range of products through a panel of
commercial insurers.
On closing, Roger Snowden and Jason Gandy, co-founders of SMEi, will
join Marsh to help drive forward its small and medium-sized enterprise
strategy, reporting to Julie Page, CEO of Marsh’s UK Commercial and
Consumer Division.
“This transaction will further enhance Marsh’s capability to serve small
and medium-sized businesses across the UK and builds on our earlier
acquisition of Central Insurance Services (CIS). Marsh identified both
SMEi and CIS as high quality, fast-growing businesses,” said Mark Weil,
CEO, Marsh UK & Ireland. “The SMEi online and call center platform, when
combined with Marsh’s ability to provide extensive risk and insurance
advice and its strong insurer relationships, will create a breakthrough
in the convenience, quality, and cost of insurance solutions available
to SMEs. The addition of the SMEi’s Broker2Broker platform will also
bring significant benefit to the members of Marsh’s broker networks.”
Jason Gandy, co-founder of SMEi, said: “Becoming part of Marsh is good
news for our clients and colleagues. By combining our expertise with
Marsh’s wide range of services we will be able to accelerate our
development and widen our range of products. Our colleagues will also
benefit from expanded career opportunities. We look forward to becoming
part of Marsh and delivering a better way for SMEs to obtain the best
risk and insurance advice.”
About Marsh
Marsh
is a global leader in insurance broking and risk management. Marsh helps
clients succeed by defining, designing, and delivering innovative
industry-specific solutions that help them effectively manage risk.
Marsh’s approximately 27,000 colleagues work together to serve clients
in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh
& McLennan Companies (NYSE:MMC), a global professional services
firm offering clients advice and solutions in the areas of risk,
strategy, and people. With 57,000 colleagues worldwide and annual
revenue exceeding US$13 billion, Marsh & McLennan Companies is also the
parent company of Guy
Carpenter, a leader in providing risk and reinsurance intermediary
services; Mercer,
a leader in talent, health, retirement, and investment consulting; and Oliver
Wyman, a leader in management consulting. Follow Marsh on Twitter @MarshGlobal,
or on LinkedIn,
Facebook
and YouTube.
About SME Insurance Services
SME
Insurance Services Ltd, established in 2002, is an independent
broker providing specialist commercial insurance to small and medium
sized businesses. With many years of experience in catering for the
needs of the business community, and over 40,000 business policies
currently in place, we provide an insurance product range for all of
today's varied business needs. SME Insurance Services was ranked
Yorkshire’s second-fastest growing small company and the 20th fastest
growing company overall in a recent survey.
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