September 18, 2018 11:30
Photo : Freepik
The firm , Marsh & McLennan announced that it had acquired the brokerage firm global Jardine Lloyd Thompson Group (JLT) for the sum of 5.6 billion us dollars (G$ US). JLT is estimated at US$ 6.4 billion. The boards of directors of both companies have approved the transaction.
“The acquisition of Jardine Lloyd Thompson creates a compelling value proposition for our customers, our colleagues and our shareholders. The complementarity between our companies creates a platform to provide exceptional service to customers and opportunities for our colleagues, ” says Dan Glaser, president and chief executive officer of Marsh & McLennan.
The chief executive of JLT, Dominic Burke, has joined Marsh & McLennan as vice-chairman of the board of directors and member of the executive committee of the firm.
Marsh provides cost annual synergies of around 250 million us dollars (M$ US) to achieve in the course of the next three years. The costs of integration are valued at 375 MILLION US$.
JLT operates in 40 countries and is specialized in damage insurance, in the sectors of energy, mining, health, construction, marine and aerospace, in addition to the financial sectors, political risk and trade credit.
The firm also works as an advisor, broker and provider of services in the areas of the council and of the administration of pension, benefits, life insurance and wealth management.
“The strong organic growth of JLT and its geographical diversification attractive improve the ability of the Marsh to accelerate its growth and expand margins on all products and all geographic areas “, adds the firm.