Marsh will take on the employees of HLF Oy, including its offices in Pori and Turku
Marsh has bought the business of Heath Lambert Finland Oy, the country’s third largest insurance broker.
Terms of the agreement were not disclosed.
Commenting on the announcement, Alex Moczarski, chief executive officer of Marsh for Europe, the Middle East and Africa, said: “Acquiring the business of HLF Oy is another important step for Marsh and its ambitious plans for growth in the Nordic region. It also enhances our risk management offering to clients and prospects in Finland. Although the market is currently served mainly by direct business, we believe that companies in Finland will find additional upside from Marsh’s risk advice, since it is both unique in its breadth and comprehensive in its approach.”
O P Puikkonen, chief executive officer of Marsh in Finland said: “Acquiring the business of HLF Oy helps us in building a critical mass of business in Finland. In particular, HLF Oy’s acknowledged strengths in the real estate industry and middle market are an ideal complement to Marsh’s existing client base. As well as strengthening our position as market leader in Finland, the addition of the impressive team at HLF Oy puts us in an excellent position to help our clients manage and find opportunity in risk. From risk identification and assessment, to risk quantification and prioritisation, as well as risk mitigation and financing – we are devoted to helping our clients to be more successful.”
As part of the agreement, Marsh will take on the employees of HLF Oy, including its offices in Pori and Turku. HLF Oy employees in Helsinki office will move to Marsh’s offices in Espoo, near Helsinki. Marsh also has an office in Oulu, in northern Finland.