Global broker Marsh has confirmed it will launch a new national brokerage firm, dedicated to the growing SME market later this year.

The SME business will be known as Marsh Advantage Insurance (MAI) and will sit alongside sister companies, Marsh Pty Ltd and Marsh & McLennan Agency, its placement arm.

The decision to launch Marsh Advantage Insurance follows the company's consistent growth in the SME segment over recent years, and recognises the importance of this rapidly growing sector in Australia.

Further information will be revealed next month.