Marsh has agreed to sell four businesses within Gibbs Hartley Cooper (GHC) to R K Harrison.
The businesses include all of GHC’s specie and cargo practices and most of its North America property & casualty and accident, health & contingency practices.
These became part of Marsh in 2010, following its acquisition of HSBC Insurance Brokers. They in turn became part of a unit which was subsequently rebranded Gibbs Hartley Cooper.
“Marsh has been delighted with its purchase of HSBC Insurance Brokers and sees exciting growth opportunities for GHC as a wholesale broker serving third parties and Marsh’s UK operations, as well as providing underwriting services to the markets and broking and capacity creation for MGUs,” says Martin South, chief executive of Marsh Europe.
“Given this focus, it is right that GHC’s other portfolios should transfer to a broker where their value can be better realised as integral constituents of its operations.”
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RK Harrison, Gibbs Hartley Cooper