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Marsh to support INSIA growth of European network with strategic alliance

IBR Staff Writer Published 13 April 2011

Insurance broker Marsh has reached an agreement with INSIA, an insurance broker network headquartered in Prague, to support the INSIA'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 over 900 network partners in 175 offices across the the Czech Republic and Slovakia.

Both Marsh and INSIA will continue to operate independently in the Czech Republic and Slovakia under their own brands.

Marsh Europe, Middle East and Africa CEO David Batchelor said that Marsh 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.

INSIA chairman Petr Marek said that the 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 INSIA is 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," Marek said.

INSIA vice chairman Ivan Spirakus said that INSIA look forward to building the its broker network across Europe with Marsh's support. Marsh's expertise and market resources will greatly help the network members to place difficult or complex risks.