Marsh & McLennan Companies (MMC) has completed its $5.6 billion acquisition of Jardine Lloyd Thompson.
The combined companies provides advice and solutions for over $100 billion of annual property and casualty re/insurance premiums placed globally.
In March 2018, The European Commission approved MMC's acquisition of the re/insurance broker, conditional on the divestment of JLT's global aerospace practice. MMC agreed to sell the business to Arthur J Gallagher to address a potential overlap identified by the Commission's review of the deal.
“Today marks the beginning of a new era with Marsh & McLennan and JLT coming together. This is a combination of strength and strength, and the primary focus is growth – in talent, capabilities, revenue and earnings,” said Dan Glaser, president and CEO, Marsh & McLennan Companies.
As part of the deal, Marsh has also acquired JLT Insurance Management, the captive insurance management and consulting subsidiary of JLT, which writes over $2.3 billion of premiums annual and manages $4.9 billion in assets.
Marsh's captive insurance management subsidiary, Marsh Captive Solutions, manages around 1,270 captive insurers globally.
Marsh, JLT, M&A, Captive, Global