Marsh Gets Macau License

Marsh Gets Macau License

Macau, a former Portuguese colony, is a Special Administrative Region of China. According to the Central Intelligence Agency World Fact Book, the peninsula in the South China Sea has an estimated population of 469,903 and its economy grew an estimated 9.5 percent last year.[@@]

"Macau is an important commercial center in the Pearl River Delta region of China, with a fast-growing economy based on tourism, textile production, gaming and trade-related services," said David J. Batchelor, chairman and chief executive of Marsh's operations in Asia, in a statement. "We're pleased to be able to provide the full array of insurance brokerage and risk management services to the business community there."

The firm said George Wu will serve as general manager of Marsh's operations in Macau, reporting to Mr. Batchelor. Mr. Wu will continue to be based in Hong Kong.

Related to Marsh, its parent company, Marsh & McLennan, announced it would pay a quarterly dividend of 31 cents per share payable on Feb. 13, 2004, to shareholders of record as of Jan. 5, 2004.