The firm has already been offering reinsurance brokerage services to Indian clients from its London office for years. But now, Marsh will be able to deliver a comprehensive range of services such as risk assessment, insurance placement, claims servicing, loss prevention and risk control to clients in India, Mr. Jones told National Underwriter.

"We want to be here now and for many years to come," said Mr. Jones, who pointed out India's growing population of one-billion-plus people and the country's economic growth, as well as a significant increase in premiums in its insurance industry.

But foreign insurance brokers have not been licensed to do business there until now because of the Indian Parliament's reluctance to approve an amendment to the 1938 Insurance Act to correct a provision that disallowed charging of commission by insurance intermediaries.

Some foreign brokerages like Marsh, however, have had an indirect presence in India for some years because they operated in the reinsurance market liaison offices and alliances with local firms.

But even with new brokerage licenses, foreign brokers need to choose an Indian partner to enter the market and are allowed only up to a 26-percent stake in the partnership to form a brokerage firm in India.

Marsh India's principal business focus will include indigenous companies, public entities and multinational companies. It will also emphasize specialization in power and energy, infrastructure, construction, financial and professional services, and credit insurance, Marsh stated.

Marsh India now has a core staff of insurance brokerage professionals in its Mumbai office and plans to expand operations to New Delhi and Bangalore in the near future. "These plans demonstrate our confidence in, and commitment to, India's insurance market," Mr. Jones said.