Specialised SME insurance firm snapped up by global player
INDEPENDENT broker SME Insurance Services, based in Leeds, has been acquired by global broker Marsh.
The firm has been bought for an undisclosed sum, and provides commercial insurance to small and medium-sized businesses in the UK, which will add to Marsh’s offering.
SMEi utilises a telephone and online model, and also runs online trading platform Broker2Broker, offering independent insurers access to products through a panel of commercial insurers.
Roger Snowden and Jason Gandy, co-founders of SMEi, will join Marsh to help drive forward its small and medium-sized enterprise strategy.
Julie Page, chief executive of Marsh’s UK Commercial and Consumer Division told TheBusinessDesk.com: “This is a highly complementary fit for Marsh.
“We continue to look for acquisitions where we can add value through enhancing the services and solutions available to clients, regardless of the size of transaction.
“This transaction gives Marsh a strong platform on which to build its proposition for small and medium-sized companies, which are the backbone of the UK economy.
“It is also testament to the strength of the proposition SMEi has built since its foundation in 2002.
“Like Marsh, SMEi understands that businesses, regardless of their size, can have unique or non-standard risk profiles, and a ‘one size fits all’ approach to insurance is often inappropriate.
Mark Weil, chief executive of Marsh UK & Ireland said: “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).
“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 employs around 27,000 people worldwide and provides services in 130 countries.
