Marsh completes purchase of HSBC Insurance Brokers
Marsh has completed its previously agreed acquisition of HSBC Insurance Brokers (HIB), a wholly owned subsidiary of HSBC Bank, in the UK and other key markets in Asia and the Middle East
On 18 December last year, Marsh announced that it would acquire HIBL for £135m. Concurrent with this transaction, Marsh has also entered into an agreement as a Preferred Strategic Partner to HSBC. Marsh said this provided it with the unique opportunity to offer insurance broking and risk management services to corporate and private clients referred to Marsh by HSBC.
During a transitional phase, scheduled to last through the end of the calendar year, HIB will operate under the name Marsh Brokers
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