LONDON: The High Court of Justice in England and Wales has sanctioned the proposed acquisition of entire shareholding of Jardine Lloyd Thompson Group plc by MMC Treasury Holdings (UK) Limited, a wholly owned subsidiary of Marsh & McLennan Companies, Inc.
In September 2018, Marsh & McLennan Inc. agreed to buy Jardine Lloyd Thompson for about 4.3 billion pounds (USD 5.7 billion) to expand its global offering of reinsurance and consulting services, adding to the frenetic pace of deal activity in the industry.
The New York-based purchaser said it aimed to become the world’s leading company offering advice on risk, strategy and personnel. The purchase of Jardine Lloyd Thompson will strengthen its specialty risk broking, expand its global reinsurance network and enhance its position in Asia and Latin America, it said.
The companies estimate that Marsh & McLennan’s revenue will rise to about USD 17 billion as a result of the acquisition.
The deal ranks among the largest ever involving insurance brokers, an industry that has drawn interest in recent years from private equity buyers attracted to a low-risk business and strategic investors seeking to boost share in a fragmented market.[the_ad id=”32940″]