Scottish insurance firm snapped up by American giant

North-east based Central Insurance Services has been snapped up for an undisclosed fee by a global player in the broking and risk management sectors.

Marsh, a wholly owned subsidiary of New York Stock Exchange-listed professional services firm Marsh & McLennan, yesterday said the acquisition of Aberdeen-based CIS was a strategicv movedesigned to enhance its capability to service a number of major corporate clients with operations in the UK.

Over the past 40 years, CIS has developed particularly strong links to the North Sea oil and gas industry but also works in other sectors including financial services, construction and agriculture.

Following completion of the deal in the first quarter, current CIS managing director Iain Henry will become head of Marsh operations in Scotland.

He said: “The combination of the two businesses creates a particular concentration of oil and gas expertise. We look forward to working with the team at Marsh to bring an enhanced service to our clients in this and other sectors.”

Marsh President and CEO Peter Zaffino said: “This transaction is demonstration of Marsh’s commitment to expanding our capabilities in Scotland.”