Marsh has appointed Andrew Herring as leader for the Americas of its wholesale energy practice.
As part of his role, Herring will be responsible for the divisionâ€™s broking services for companies with operations in Canada, US and Latin America.
Herring, who joins Marsh from Jardine Lloyd Thompson, will report to Andrew George, leader of Marshâ€™s energy practice for Europe, the Middle East and Africa.
Nigeriaâ€™s Insurance Brokers of Nigeria (IBN) is owned 40% by Marsh.Â It also established an energy practice about four years ago essentially to encourage entrepreneurship in the marginal oil fields.
Commenting on the appointment, Mr George said: â€œAt the end of 2008, the energy insurance market saw both significant losses and reduced demand stemming from the global economic downturn.
â€œIn 2009, the sectorâ€™s risk profile improved dramatically. Energy firms need to work hard to ensure they maximise the potential financial benefit from this improvement. Andrew has a wealth of experience which will greatly benefit clients in identifying the most appropriate insurance solution, wherever in the world it is located.â€
Herring added: â€œThe wholesale energy insurance market for Americas-based risks experienced capacity increases in 2009. We expect capacity will increase further this year as a result of new entrants to the market and result in fiercer competition among existing players. This is positive news for insurance buyers.
â€œMarsh has fantastic resources with an unrivalled depth of knowledge of the energy insurance marketplace, and through our global network we can help companies in the energy business manage their risk and insurance programmes more effectively. I look forward to working with our clients and developing Marshâ€™s Americas wholesale energy business.â€