Marsh Mulls Sale of PCS, Financial Risk Manager for Super Rich Asians

Marsh is exploring a sale of its financial risk manager and life insurance broker for high-net-worth individuals in Asia, according to people familiar with the matter.

Marsh, formerly known as Marsh & McLennan Cos., is working with an adviser on a possible disposal of Private Client Services as it looks to streamline its global portfolio of assets, the people said, asking not to be identified because the deliberations are private.

PCS, which is under Marsh’s Mercer subsidiary, has drawn early interest from private equity firms and industry players, and a transaction could value it at several hundred million dollars, the people said.

Considerations are ongoing and no final decision has been made, the people added. A representative for Marsh declined to comment.

PCS provides financial risk management and life insurance services to more than 8,000 clients in about 50 markets, with offices in Singapore, Hong Kong, Shanghai, Geneva and Zurich, according to its website.

Another private client services unit operating in the US under Marsh McLennan Agency isn’t affected by the sale considerations, one of the people said.

Global investment firms are showing interest in the sector — Charles Monat Associates secured a strategic minority equity investment from Apollo Global Management Inc. in October.

Marsh includes Guy Carpenter, Mercer and Oliver Wyman. The group offers services across risk, reinsurance and capital, people and investments, as well as management consulting. Marsh’s shares are down 24% in the past 12 months, for a market value of about $86 billion.

Photograph: The Brooklyn Bridge and One World Trade Center along the Manhattan skyline in New York, on Tuesday, Dec. 30, 2025. Photo credit: Michael Nagle/Bloomberg