NEW YORK--(BUSINESS WIRE)--Marsh, a global leader in insurance broking and risk management, today announced that it had reached a definitive agreement to acquire Leeds-based SME Insurance Services (SMEi), an independent broker which provides specialist commercial insurance to small and medium-sized enterprises across the UK. Terms of the transaction, which is expected to close in the third quarter of this year, were not disclosed.
SMEi has developed a highly effective online and telephone-based business model which enables it to provide clients with flexible and comprehensive insurance solutions, tailored to their individual requirements, regardless of size or risk profile. SMEi also operates Broker2Broker, an online trading platform that offers independent insurance brokers access to a wide range of products through a panel of commercial insurers.
On closing, Roger Snowden and Jason Gandy, co-founders of SMEi, will join Marsh to help drive forward its small and medium-sized enterprise strategy, reporting to Julie Page, CEO of Marsh’s UK Commercial and Consumer Division.
“This transaction will further enhance Marsh’s capability to serve small and medium-sized businesses across the UK and builds on our earlier acquisition of Central Insurance Services (CIS). Marsh identified both SMEi and CIS as high quality, fast-growing businesses,” said Mark Weil, CEO, Marsh UK & Ireland. “The SMEi online and call center platform, when combined with Marsh’s ability to provide extensive risk and insurance advice and its strong insurer relationships, will create a breakthrough in the convenience, quality, and cost of insurance solutions available to SMEs. The addition of the SMEi’s Broker2Broker platform will also bring significant benefit to the members of Marsh’s broker networks.”
Jason Gandy, co-founder of SMEi, said: “Becoming part of Marsh is good news for our clients and colleagues. By combining our expertise with Marsh’s wide range of services we will be able to accelerate our development and widen our range of products. Our colleagues will also benefit from expanded career opportunities. We look forward to becoming part of Marsh and delivering a better way for SMEs to obtain the best risk and insurance advice.”
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 27,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With 57,000 colleagues worldwide and annual revenue exceeding US$13 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a leader in providing risk and reinsurance intermediary services; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Follow Marsh on Twitter @MarshGlobal, or on LinkedIn, Facebook and YouTube.
About SME Insurance Services
SME Insurance Services Ltd, established in 2002, is an independent broker providing specialist commercial insurance to small and medium sized businesses. With many years of experience in catering for the needs of the business community, and over 40,000 business policies currently in place, we provide an insurance product range for all of today's varied business needs. SME Insurance Services was ranked Yorkshire’s second-fastest growing small company and the 20th fastest growing company overall in a recent survey.