Marsh has resurrected a name from the past with the announcement of the formation of Bowring Marsh as its specialist international placement broker for property (including terrorism) and casualty risks.
Mark Gregory, currently UK head of Marsh’s Global Placement operations, has been named as the new unit’s CEO reporting to Alexander Moczarski, president of the International Division of Marsh.
Marsh’s bulletin explained that the name “Bowring derives from C T Bowring, one of the first brokers at Lloyd’s. Originally established in 1810, C T Bowring was acquired by Marsh & McLennan Companies in 1980. For decades, C T Bowring served clients from all over the world and was synonymous with excellence in the international market.”
Bowring Marsh will operate in several global financial centers, including, Bermuda, Dublin, London, Miami, Singapore and Zurich. It will “bring together placement expertise in the main international market hubs into an integrated global network, under a consistent and powerful brand,” said Marsh.
Marsh Chairman and CEO Dan Glaser explained: “Marsh has provided clients with unrivalled access to global markets for generations. In establishing Bowring Marsh, we are responding to our clients’ growing needs and to marketplace opportunities. “The global insurance market is undergoing an unprecedented period of change, with the creation of new products and capacity all around the world. Bowring Marsh will secure the best terms and conditions for our clients wherever these may be found.”
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