Standard Chartered Insurance Brokers was the original name of the company and was established in May 1977, as a joint venture between FIM (Finance Insurance and Management) Consultants Limited and Standard Chartered Insurance Brokers Limited, UK.

Standard Chartered Insurance Brokers, UK itself was a joint venture between Standard Chartered Bank (affiliated to Standard Bank of Nigeria {now First Bank of Nigeria Plc}) and Sedgwick Insurance Brokers UK.  Standard Chartered Bank later divested from all non-banking operations worldwide which included its interest in Scib.

The acronym Scib was adopted when Standard Chartered Bank Ltd divested from the joint venture. Sedgwick however retained its interests as well as being Scib’s technical partner until it was bought over by Marsh & MacLennan in 1997.

With the take over of Sedgwick by Marsh & McLennan, the Technical Agreement with Scib ceased as Marsh had another associate in Nigeria. Notwithstanding, Scib and Marsh continue to collaborate on a case-by-case basis. Similar relationships are maintained with AON and other global brokers.
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