MMC launches P&I unit

Marsh & McLennan Companies (MMC) has launched a protection and indemnity (P&I) client service unit.

The unit, PICS, offers a range of reinsurance and advisory services designed specifically to help P&I associations and insurers address the increasingly complex challenges they face.

PICS brings together the knowledge, resources and expertise of Marsh & McLennan Companies’ four operating units: Guy Carpenter, Marsh, Mercer and Oliver Wyman.

The PICS group combines the Guy Carpenter international P&I team (key offices in London, New York and Tokyo), Marsh’s marine liability team (led by Jeremy Jiggins), Marsh’s global marine practice, the Mercer network P&I specialist team (led by David Furlong) and the global offices of Oliver Wyman.

Simon Smith, chairman of PICS and managing director at Guy Carpenter, said: “By bringing together the full resources of MMC, we are able to tackle the wide range of challenges our clients face in today’s ever more complex P&I environment.

“In addition to the broadest range of services, we have a team second to none in its understanding of the mutuals, companies and agencies that we work with. Our client base demands much more than transactional broking, and that is what PICS delivers - services far beyond the conventional.”