Marsh Commercial completes rebranding and strives for further growth

Perth-based insurance broker Jelf Clark Thomson has completed its rebranding exercise as it strives for further growth under the new Marsh Commercial name. 

Marsh Commercial completes rebranding and strives for further growth

Ben Bailey

Scottish Financial News reported in February that the firm, which was obtained by Jelf in May 2018, saw its profits more than double in its first year under new ownership. The firm saw sales reach £12 million for the year ending April 30 2019, marking a £1.85m profit.

Ben Bailey, the firm’s regional chief executive, told The Courier that Marsh Commercial has taken the time to manage an integration process with minimum business disruption, but now offers more services to clients and better career opportunities for staff.

He said: “What Marsh had coming together in Scotland over the last couple of years was actually four separate entities and some things were more clunky for us to deliver.

“There was a bit of Marsh business, a company called Bluefin, Clark Thomson and Central Insurance in Aberdeen, so actually bringing those four components together in a way that enabled us to try and get the best out of each of them for the future has taken us a couple years.

“We had anticipated that it would take this amount of time and that’s where we’ve got to – it’s quite exciting, finally, for everybody to feel that they are part of one entity rather than separate bits.”

Mr Bailey added that although the firm aspires to make further acquisitions across Scotland and the UK, it had paused in this endeavour for the moment. He added that it was a case of “finding the right ones that suit the culture of the business rather than simply pursuing scale”.

Commenting on the impact of the current coronavirus pandemic which has plagued firms across the UK, Mr Bailey said that the firm had adapted quickly to the pandemic, ensuring staff had the resources to work from home and assuring staff that no one in the company would lose their job due to the outbreak of the virus.

Mr Bailey said: “We have seen an uptick in COVID-19 related claims which currently fall into three categories.

“The first category is claims that appear to definitely be covered, the second is where claims appear definitely not to be covered and a third which is claims that are ambiguous and that’s what we are working through.”

He added that the insurance industry faced rising costs, including vehicle accident claims. He said: “Vehicles are becoming increasingly sophisticated, for example, and a small bump is no longer just a bumper replacement, it’s all the electronic technology that goes with it, as well as injury claims.”

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