The federal government has named Marsh as broking partner for its maritime insurance program, supporting naval expansion.

Marsh will provide broking and risk advisory services to the Royal Australian Navy’s construction risk insurance program, covering its plans to grow the fleet.   

Initiatives are likely to include building six Hunter-class frigates, three Hobart-class destroyers, 11 frigates, six large optionally crewed surface vessels, and a new naval infrastructure precinct in SA.  

Marsh McLennan Pacific executive director David Bidmead says the expansion “presents a unique and significant proposition to global insurance markets. 

“The government’s investment in naval capability represents some of the biggest investments in Australia’s military capability in recent decades.”