Marsh got a chance to deliver some good news, when the China Insurance Regulatory Commission (CIRC) ranked it number one out of China’s top 20 intermediaries based on annual invoiced revenue.
The survey published in the CIRC’s 2007 Insurance Intermediary Market Report put Marsh (Beijing) Insurance Brokers Co. Ltd as the number one of all international brokers and number four of all brokers in China.
Marsh Greater China CEO, Paul Wilkins indicated he was “thrilled with the results for 2007 – just one year after the CIRC granted Marsh China’s first and only Wholly-Owned Foreign Enterprise insurance broking license. He called the ranking a “tremendous honour,”
Rob Wendin, Managing Director and Leader for the London-based Asia Client Services Group, added: “Europe’s complex web of regulation provides unique challenges to the increasing number of Chinese companies looking to expand overseas. More such companies are now coming to Marsh for the kind of insurance and risk management advice that better enables them to grow with confidence.”
Marsh also explained: “Of the 322 insurance broker companies operating in China, five are international brokers. Other international brokers include business in their revenues, which is not included in the Marsh figures, such as employee benefits and reinsurance. Marsh’s sibling companies Guy Carpenter and Mercer hold revenues for reinsurance and employee benefits business respectively for MMC in China.”
Source: Marsh – www.marsh.com
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