Insurance broker Marsh said it was ranked the number one international insurance broker in China for the second year in a row.
The ranking came from the China Insurance Regulatory Commission which ranked the nation's top 20 brokers based on annual invoiced revenue in its 2008 Insurance Intermediary Market Report.
Marsh said it was ranked number one of all international brokers and number four of all brokers in China, with invoiced revenue of RMB 134 million ($19.62 million U.S.).
The broker, a subsidiary of New York-based services company Marsh & McLennan, said its business grew 43 percent from the previous year in China and holds more than 5 percent of the market share.
A copy of the ranking obtained by National Underwriter shows of the other top international brokers, Marsh is followed by Aon at RMB 124 million ($18.25 million), which holds 4.7 percent of the market, and Willis at RMB 123 million ($18 million), with 4.6 percent of the market.
China's top broker is Chang An Insurance Brokers Co. Ltd., with more than 12 percent of the market and revenue of RMB 322 million ($47.12 million).
The top 20 brokers control less than 63 percent of the market with total revenue of RMB $1.66 billion ($243 million).
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