SMAR Daily Industry News

Marsh names Baker chairman, Walls global head

Marsh Risk will see a leadership shift on Jan. 1, 2027 as Marcus Baker steps into the newly created role of chairman of marine, cargo and logistics, while Michael Walls moves into the global head position. Both will report to Andrew George, president of specialty and industry at Marsh Risk.

Baker brings 45 years of industry experience, including 32 years at Marsh where he helped shape its marine, cargo and logistics practice. In his chairman role he will support worldwide colleagues, maintain key market relationships and lead strategic initiatives tied to global trade movement. Walls, who joined Marsh in 2005 and currently leads the Asia marine, cargo and logistics team, will steer the global strategy from the start of the year.

George highlighted that about 80% of world trade by volume moves by sea, underscoring the team’s importance amid supply-chain performance and geopolitical uncertainty. Walls noted that the sector faces unprecedented challenges, with clients seeking clearer solutions. The timing coincides with heightened strain on marine brokers, as recent reports cite severe disruptions in the Strait of Hormuz and at least 15 container ships attacked in mid-October, prompting sharp changes in war-risk coverage.

Industry competition for marine talent is intensifying, illustrated by Gallagher’s recent hire of a veteran hull and war broker and DAC Beachcroft adding two marine and energy coverage partners. Marsh’s planned succession aims to provide stability for brokers placing marine risks, preserving market connections while the business focuses on growing Asian trade corridors, where Walls’ experience is expected to be valuable.

Why it matters

Stability in Marsh’s marine leadership offers insurers and brokers continuity as war-risk and supply-chain coverage become increasingly complex.

FAQ

When do the new Marsh appointments take effect?
Both appointments take effect on January 1, 2027.

Who will the new chairman and global head report to?
Both will report to Andrew George, president of specialty and industry at Marsh Risk.

What recent events have heightened challenges for marine brokers?
Shipping through the Strait of Hormuz remained severely disrupted, with at least 15 container ships attacked in ten days in mid-October.

Source: Insurance Business America. See the original source for full details.