Global insurance brokerage leader Marsh has completed the acquisition of all equity interests held by its local Thai partner PB Group. Its Thai business has officially become a wholly owned entity and been renamed Marsh Risk (Thailand) Limited. The transaction closed on 1 July, bringing an end to the parties’ 48-year joint venture partnership.

This acquisition serves as a typical example of equity consolidation for foreign insurance brokers operating within the ASEAN region. Following Thailand’s removal of restrictions barring 100% foreign ownership in insurance brokerage firms, multiple international brokerage institutions have successively acquired controlling stakes in their Southeast Asian joint venture entities.