Marsh Inc. has completed the takeover of International Advisory Services (IAS) in one of the biggest deals in Bermuda's insurance industry so far this year, The Royal Gazette can reveal.

The acquisition, which sees Marsh take over the Island's largest independent manager of captive and third-party insurance companies, was announced yesterday, but terms of the transaction were not disclosed.

Marsh already manages more than 1,100 captives worldwide and the move will further strengthen its position as a top player in the global captive management industry.

For full story see Monday's business section.