Marsh raises stake in Indian JV to 49 pc

Global insurance broking firm Marsh Tuesday said it has raised shareholding in its Indian joint venture, Marsh India, from 26 per cent to 49 per cent, the maximum FDI limit in the sector.

Marsh India is a joint venture between Marsh International Holdings and its India-based partners, which include Rampart Trust, the company said in a statement.

Marsh India was one of the first foreign insurance brokers to be registered as composite broker with the Insurance Regulatory and Development Authority of India.