{"id":10575,"date":"2014-06-23T15:31:09","date_gmt":"2014-06-23T20:31:09","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=10575"},"modified":"2014-06-23T15:31:09","modified_gmt":"2014-06-23T20:31:09","slug":"marsh-to-acquire-majority-stake-in-panama-broker-semusa","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/marsh-to-acquire-majority-stake-in-panama-broker-semusa\/","title":{"rendered":"Marsh to Acquire Majority Stake in Panama Broker Semusa"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/06\/MarshLogo.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-10576\" title=\"MarshLogo\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/06\/MarshLogo-1024x239.jpg\" alt=\"\" width=\"1024\" height=\"239\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/06\/MarshLogo-1024x239.jpg 1024w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/06\/MarshLogo-300x70.jpg 300w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/06\/MarshLogo.jpg 1925w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<div id=\"article-content\">\n<p>Marsh announced that it has reached a definitive agreement to  acquire a majority stake in Panamanian insurance broker and advisor  Semusa, Marsh\u2019s long-standing local correspondent broker.<\/p>\n<p>Terms of the transaction were not disclosed. It is expected to close in the third quarter of 2014.<\/p>\n<p>Marsh\u2019s bulletin said the transaction would strengthen its  \u201cleadership position in the Central America and Caribbean region and  follows the acquisition of Franco &amp; Acra Tecniseguros in the  Dominican Republic last year.<\/p>\n<p>\u201cOperating under the name Marsh Semusa, the combined entity will  bring together the long-established and highly-regarded operations of  Semusa, with the global footprint, solutions, and placement capabilities  of Marsh to provide an enhanced service to clients of all sizes in  Panama.<\/p>\n<p>Semusa has been Marsh\u2019s local correspondent for 15 years. Upon  closing, Samuel Urrutia, President of Semusa Group, will become Chairman  of the Board of Marsh Semusa, reporting to Ricardo Brockmann, CEO of  Marsh Latin America and Caribbean. Emanuel Abadia, currently CEO of  Semusa, will become CEO of Marsh Semusa, reporting to Jose Vergara, Head  of Marsh Central America and the Caribbean.<\/p>\n<p>Peter Zaffino, President and CEO of Marsh LLC, said: \u201cPanama is one  of the fastest growing economies in the world, and I am excited that  Marsh\u2019s first office in Central America will be located in one of its  most dynamic business environments. The country has seen significant  expansion across the financial services, infrastructure, construction,  energy, logistics and transportation sectors. We look forward to  offering companies in Panama the full range of our global and regional  capabilities.\u201d<\/p>\n<p>Urrutia noted that strong economic growth in recent years \u201chas  increased the demand for a higher level of risk advice from companies  looking to expand.\u201d He added that by \u201cfurther cementing our relationship  with Marsh, we will strengthen and enhance the capabilities that Semusa  has built up over many years and present the most comprehensive risk  and insurance offering in the local market.\u201d<\/p>\n<p>David Batchelor, President of Marsh\u2019s International Division, added:  \u201cThis transaction consolidates the successful relationship Marsh has had  with Semusa since 1999. We look forward to working with their respected  local management team and colleagues to further broaden their already  deep client relationships.\u201d<\/p>\n<p>Source: Marsh<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Marsh announced that it has reached a definitive agreement to acquire a majority stake in Panamanian insurance broker<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10575","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Marsh to Acquire Majority Stake in Panama Broker Semusa - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, 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