Marsh & McLennan Companies (MMC) announced the completed the acquisition of Jardine Lloyd Thompson Group plc (JLT) for USD 5.6 billion in fully diluted equity value. A week ago, the European Commission gave the green light for the transaction.
The deal, first announced in September 2018, is expected to boost MMC's leadership position in insurance and reinsurance brokerage, health and retirement. At the same time, it will also significantly expand MMC's presence to more than 130 countries.
Overall, the combined company provides advice and solutions for more than USD 100 billion of annual property/casualty insurance and reinsurance premiums placed globally.
"Today marks the beginning of a new era with Marsh & McLennan and JLTcoming 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 Chief Executive Officer, Marsh & McLennan Companies.