Marsh has completed the acquisition of International Advisory Services, the largest independent manager of captive and third-party insurance companies in Bermuda.  Terms of the transaction were not disclosed.

Marsh said that the acquisition strengthens its position as a global leader in managing captive insurance companies and its rank as Bermuda's largest captive management organization. 

Captive insurance companies are owned by businesses, associations, or groups of businesses as formal mechanisms for self-insuring, funding, and managing risks.

Worldwide, Marsh manages more than 1,100 captives. These entities are headquartered in 31 countries and other jurisdictions around the world that have specific regulations to accommodate these types of businesses. International Advisory Services, which manages over 150 captives, is headquartered in Bermuda where nearly all of the captives it manages are located.