Marsh, an insurance broker under Marsh McLennan, has expanded its presence in Italy with the purchase of Fontana Rava-Toscano & Partners (FRT).
Financial details of the deal were not revealed.
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Established in 1992 by its current partners and Giancarlo Fontana Rava, FRT focuses on property and casualty (P&C) insurance brokerage and risk consulting.
The Milan-headquartered broker primarily serves mid-sized companies in industries such as industrial manufacturing, financial services and aviation.
It also has expertise in employee benefits and financial risk management.
Marsh McLennan International CEO Flavio Piccolomini said: “The acquisition of FRT is a significant step in our ambitious expansion strategy in Italy.
“FRT is widely recognised for its outstanding reputation, experience and expertise in risk advisory. The addition of their highly complementary capabilities will enable us to further develop our specialist service offering to our clients in Italy.”
FRT will operate under the name Marsh FRT.
Its leadership team – Stefano Toscano, Paolo Vigo, Edoardo Poss and Nicolò Fontana Rava – will remain, with a focus on driving growth in the corporate space.
They will work alongside Marsh McLennan’s other businesses – Guy Carpenter, Mercer and Oliver Wyman.
FRT vice-president Stefano Toscano said: “After 30 years of success in providing tailored insurance brokerage solutions to organisations in key sectors, this transaction will provide our clients with access to Marsh’s global expertise and services.
“As a result, our clients will benefit from the combination of our businesses’ long-standing experience in providing high-quality solutions focused on their needs, while offering opportunities for growth and development for our colleagues.”
In November last year, Marsh, in alliance with We2Sure, introduced an insurance facility to help organisations in the EU, UK and US reduce the growing risks associated with carbon credit certificate fraud.
