Marsh deal threatens jobs
Redundancies will not be revealed until end of Q1
Marsh's acquisition of HSBC Insurance Brokers has led to uncertainty over the future of its 1,400 employees.
Dan Glaser, Marsh's chairman and chief executive, said: "Any job losses are yet to be quantified and will be disclosed when the deal is finalised at the end of Q1. At this early stage it's virtually impossible to say but the transaction has been driven by growth."
Marsh said the £135m sum paid for the UK's 9th largest broker would be delivered in a mixture of Marsh & McLennan Companies
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Hedron CEO Haggart eyes-up offering branded products
Chris Haggart, CEO of Hedron, intends to offer branded products drawing on the strength of the partnership with Broker Insights it entered into last year.
People Moves: 15 – 19 April 2023
Stay in the loop with the latest insurance personnel moves.
First fall in car premiums for over two years
Comprehensive car insurance premiums fell by 5% in the first three months of 2024 after nine consecutive quarters of rises, according to the latest research from Confused/WTW.
Biba Conference 2024 countdown: iprism’s Brad Harmer
In the latest in our series of Biba previews, Brad Harmer, chief commercial officer at iprism, teases a digital challenge on its stand and why he won’t be missing astronaut Tim Peake’s speech.
Three quarters of brokers still concerned about underinsured clients, claims Aviva
According to Aviva’s latest Broker Barometer survey, 73% of brokers are concerned that some of their clients may be underinsured as just 24% of brokers’ clients had increased their sums insured to an adequate level.
Broking profits fall at Saga
Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.
Alan Boswell seals deal for taxi and driving school specialist
Alan Boswell Group has bought The Insurance Centre, a Norwich-based insurance broker with expertise in taxi and driving schools insurance.
US fronter Hadron set to onboard first UK MGA in Q2
Altamont-backed hybrid insurer Hadron is aiming to change the reputation of fronters to businesses that priortise sensible and measured underwriting rather than just scale.
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop