Marsh, the global leader in insurance broking and risk management, has reached an agreement to acquire a minority stake in Beassur, a Moroccan insurance broker.
The terms of the transaction, which is expected to close later this quarter, were not disclosed. On closing, Beassur will operate as Beassur Marsh.
Founded in 1974, Beassur is a highly respected insurance brokerage firm specialising in risk management and insurance broking for large, complex organisations and mid-market businesses, with particular expertise in the construction and public entity sectors, says Marsh in a statement. Headquartered in Casablanca, Beassur has established a strong reputation for developing innovative solutions that meet the changing risk requirements of their clients.
Marsh says that the investment will provide it with a strategic footprint into the growing Moroccan market. Working through Beassur’s respected team, with its deep knowledge of the local market, Marsh will be able to offer its leading risk and insurance capabilities to Beassur’s clients who will benefit from unrivalled global expertise, delivered locally.
Mr Christos Adamantiadis, CEO of Marsh Middle East and Africa, said, “This investment is an important step as we increase our offering in the north and west Africa region.”
Mr Mehdi Tazi, CEO for Beassur, added, “As our clients’ needs continue to evolve, we have given much thought to how to best meet their growing expectations. By accessing Marsh’s broad capabilities as a leading risk and insurance solutions provider, delivered by Beassur’s dynamic team, we will be able to offer unparalleled value and service to our clients.”