Marsh to Acquire Majority Stake in Panama-Based Broker Semusa
18 6월 2014 - 10:39PM
Business Wire
Consolidates Long-Standing Relationship with
Leading Insurance Broker and Risk Advisor in Fast-Growing
Economy
Marsh, a global leader in insurance broking and risk management,
today announced that it has reached a definitive agreement to
acquire a majority stake in Semusa, a leading insurance broker and
advisor in Panama and Marsh’s long-standing local correspondent
broker. Terms of the transaction were not disclosed.
The transaction will strengthen Marsh’s leadership position in
the Central America and Caribbean region and follows the
acquisition of Franco & Acra Tecniseguros in the Dominican
Republic last year. Operating under the name Marsh Semusa, the
combined entity will bring together the long-established and
highly-regarded operations of Semusa, with the global footprint,
solutions, and placement capabilities of Marsh to provide an
enhanced service to clients of all sizes in Panama.
Semusa is a leading insurance broker in Panama and has been
Marsh’s local correspondent for 15 years. Upon closing, Samuel
Urrutia, President of Semusa Group, will become Chairman of the
Board of Marsh Semusa, reporting to Ricardo Brockmann, CEO of Marsh
Latin America and Caribbean. Emanuel Abadia, currently CEO of
Semusa, will become CEO of Marsh Semusa, reporting to Jose Vergara,
Head of Marsh Central America and the Caribbean.
Peter Zaffino, President and CEO of Marsh LLC, said: “Panama is
one of the fastest growing economies in the world, and I am excited
that Marsh’s first office in Central America will be located in one
of its most dynamic business environments. The country has seen
significant expansion across the financial services,
infrastructure, construction, energy, logistics and transportation
sectors. We look forward to offering companies in Panama the full
range of our global and regional capabilities.”
Commenting on the transaction, Samuel Urrutia said: “Strong
economic growth in recent years has increased the demand for a
higher level of risk advice from companies looking to expand. By
further cementing our relationship with Marsh, we will strengthen
and enhance the capabilities that Semusa has built up over many
years and present the most comprehensive risk and insurance
offering in the local market.”
David Batchelor, President of Marsh’s International Division,
added: “This transaction consolidates the successful relationship
Marsh has had with Semusa since 1999. We look forward to working
with their respected local management team and colleagues to
further broaden their already deep client relationships.”
The transaction is anticipated to close in the third quarter of
2014.
About Marsh
Marsh is a global leader in insurance broking and risk
management. We help clients succeed by defining, designing, and
delivering innovative industry-specific solutions that help them
effectively manage risk. We have approximately 27,000 colleagues
working together to serve clients in more than 100 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 human
capital. With more than 54,000 employees worldwide and
approximately $12 billion in annual revenue, Marsh & McLennan
Companies is also the parent company of Guy Carpenter, a global
leader in providing risk and reinsurance intermediary services;
Mercer, a global leader in talent, health, retirement, and
investment consulting; and Oliver Wyman, a global leader in
management consulting. Follow Marsh on Twitter @MarshGlobal.
About Seguros Morrice y Urrutia S.A.
Seguros Morrice y Urrutia S.A. (Semusa), is one of the leading
insurance brokers in Panama, offering a broad range of products and
services related to insurance brokerage. As of 30 March 2014,
Semusa had $2.8 million in assets and more than 75,000 clients.
Based in Panama City, the firm has 196 professionals and a national
presence.
MarshAmaya Corral,
+1-786-473-7563amaya.corralyunquera@marsh.com
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