Marsh, has reached agreement with INSIA a.s. (INSIA), the insurance broker network headquartered in Prague, Czech Republic to support the network’s growth in the Czech Republic and Slovakia and other European countries. As part of the agreement, Marsh will also acquire a 15% stake in INSIA.
INSIA has more than 900 network partners in 175 offices throughout the Czech Republic and Slovakia. Sharing unique operating and IT platforms, the network membership is ranked among the top brokers in the Czech Republic and Slovakia and is market leader in commercial SME and personal lines.
David Batchelor, CEO of Marsh Europe, Middle East and Africa, said: “We are excited by our partnership with INSIA and look forward to helping it succeed in Continental Europe’s rapidly developing SME market, where there are attractive growth opportunities. We particularly look forward to working with INSIA to introduce and apply its network solutions, which are based on bespoke technology and know-how, in other European countries. This agreement is part of Marsh’s worldwide strategy of growing its presence in the SME segment.”
Petr Marek, Chairman, INSIA said: “The partnership of INSIA and Marsh is a powerful strategic combination to benefit our network partners and clients. Partnering with the world’s leading broker and risk advisor will assist INSIA to speed up its network growth in other territories and broaden the products and services we are able to offer the SME and personal lines segment. Through Marsh, members of the INSIA network will have enhanced access to both international markets and vast experience in product development.”
Ivan Špirakus, Vice Chairman of INSIA, said: “We look forward to building the INSIA broker network across Europe with Marsh’s support. Marsh’s expertise and market resources will greatly help our network members to place difficult or complex risks. Our members will also benefit from access to the skills and expertise of Marsh to enhance their offerings to network members.”
Both Marsh and INSIA will continue to operate independently in the Czech Republic and Slovakia under their own brands.
