Marsh expands in Middle East

Marsh has announced the establishment of a Financial and Professional Services (FINPRO) Practice in the Middle East.

Based in Dubai, the FINPRO Practice will be led by Alexander Blom, regional FINPRO leader.

FINPRO is a specialist practice within Marsh providing insurance and risk management solutions for the professional and financial risk exposures of clients.

FINPRO coordinates and delivers a comprehensive risk management service in the professional and financial sector, and also develops, structures and places specialist insurance products including Directors’ & Officers’ (D&O), Professional Indemnity (PI), Crime, Bankers Blanket Bond (BBB) and Initial Public Offerings (IPO),for a wide range of companies and industries.

Blom, who has worked at Marsh for over 10 years in the London market and the Netherlands, will be responsible for leading the development of FINPRO’s business among existing clients and prospects throughout the Middle East.

Robert Makhoul, head of Marsh’s Middle East Operations, said: “Companies in the Middle East are now approaching and managing risk in an increasingly sophisticated manner.

"The establishment of the new FINPRO Practice reflects the growing demand for expert insurance, corporate governance and risk advice in the region.

"Marsh has ambitious growth plans in place for the Middle East and is committed to building its business in the region, enabling us to continue to serve this important market well.”

Blom added: “The demand for specialist insurance and risk management services for professional and financial exposures has grown dramatically in the Middle East in recent times, fuelled by the economic growth and expanding international business interests of companies.

"More and more Middle East-based companies are now leveraging competitive advantage from their insurance and risk programmes, and Marsh’s FINPRO Practice is ideally positioned to provide strategic advice.”