Marsh awarded China’s first foreign license

Marsh & McLennan Companies Inc., the world’s biggest insurance brokerage by market value, said its insurance brokerage unit had been awarded China’s first wholly-owned foreign enterprise brokering license.

Marsh said in a statement Monday that its existing business will expand in China to include large-scale commercial risk, reinsurance and international marine, aviation and transport insurance brokerage.

Marsh’s major rivals, including Britain’s Willis Group Holdings Ltd. (Charts) and Jardine Lloyd Thompson, have already set up joint venture insurance brokerage companies with their local partners in China.

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One Response to “Marsh awarded China’s first foreign license”

  1. » Marsh awarded China’s first foreign license Says:

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