International insurance broking and risk management group Marsh has announced the completion of its previously announced acquisition of Alexander Forbes Risk Services’ operations in Uganda.
The transaction‚ the terms of which were not disclosed‚ follows Marsh’s acquisition earlier this year of Alexander Forbes’ South African insurance broking operations‚ Alexander Forbes Risk Services (AFRS) and ancillary operations‚ as well as Alexander Forbes’ insurance broking operations in Botswana and Namibia.
Brian Blake‚ Vice Chairman of Marsh Africa‚ said: “Uganda’s strong economic growth and rapid development‚ especially in the mining and energy sectors‚ increasingly requires companies to adopt more advanced risk management practices and insurance solutions to meet their particular requirements.
“Together with our respected and knowledgeable team in Uganda‚ we will draw upon Marsh’s global resources and placement skills to enhance the service we can offer to local companies. In addition‚ clients will benefit from the broad range of risk management expertise Marsh Africa offers to companies across the sub-Saharan region.”
Kwame Ejalu‚ who has been appointed head of Marsh’s operations in Uganda‚ added: “We are excited to be joining the strong management team at Marsh Africa as they broaden their commitment to the East Africa region. Marsh is the Continent’s pre-eminent insurance broker and risk adviser and my colleagues and I look forward to providing all our Ugandan clients – from multinational companies to indigenous enterprises – with the innovative‚ industry-specific risk management services and solutions they need to grow and thrive.” - I-Net Bridge