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Marsh & McLennan, American insurance broking and risk management frm has opened its Myanmar representative offce in Yangon. It will conduct market research and feasibility studies for insurance broking business in Myanmar, and provide business support and liaison activities on behalf of Marsh Singapore’s businesses.

Marsh Singapore is a division of Marsh, a wholly owned subsidiary of Marsh & McLennan Companies. Marsh & McLennan Companies is a global professional services frm with headquarters in New York City. It was also ranked 29th on the 2012 Bloomberg Business week 50, the magazine’s annual ranking of the S&P 500’s top 50 performing companies. It was formed in Chicago in 1905 which offers advice and solutions in the areas of risk, strategy and people. Marsh is a global leader in insurance broking and risk management. In more than 130 countries, experts in every facet of risk and across industries help clients to anticipate, quantify, protect against the “what ifs” in life. Marsh & McLennan Companies employs 57,000 colleagues worldwide and its annual revenue exceeding $13 billion (as of Dec 31, 2014).

Jerry West more, chief country representative of Marsh Yangon Representative Office said that Myanmar has great potential. When he was working in the country for last three years, he has met with some amazing individuals and companies. They are keen to help develop and grow local talent in their Marsh Opens Myanmar Representative Office business, and they are looking forward to working in this beautiful country, and being a part of its growth story.

Deputy Minister of Finance, Dr. Maung Maung Thein, deputy director general of Ministry of Finance, U Myint Oo, Martin South, chief executive offcer of Marsh Asia-Pacifc, Derek Mitchell, U.S ambassador to Myanmar, Andrew Patrick, British ambassador to Myanmar and Robert Chua, ambassador of Singapore to Myanmar have attended the offce opening ceremony.

Martin South, CEO of Marsh Asia-Pacifc said, “In recent years, Myanmar has experienced rapid economic development and progress, and ushered in an era of prosperity. It has seen a steady infow of foreign direct investment, and many multi-national corporations have staked their interests in the country. These trends look set to continue, making this an exciting time for Myanmar and its people, and Marsh is delighted to be part of the journey and be an active contributor to Myanmar’s transformation. We believe that we are well-positioned to play our role in further stimulating the economy and enabling businesses to leverage on our extensive experience and network to manage their risks, and achieve operational excellence and business success.” Marsh works with clients of all sizes to define, design, and deliver innovative solutions to better quantify and manage risks.