JLT’s shareholders approve Marsh bidNovember 9 2018 by InsuranceAsia News Staff
JLT’s shareholders almost unanimously approved Marsh’s US$5.6 billion bid for the company this week with 99.9% accepting.
Dan Glaser, president and chief executive of Marsh and McLennan (pictured), commented: “The process of planning the future of Marsh & McLennan and JLT together now begins in earnest. The colleagues I’ve met at town halls are enthusiastic about bringing the best of both organisations together for the benefit of our clients.”
He added: “Upon closing, the combined firm will have the deepest pool of talent in the industry; the broadest industry expertise; and the greatest capability to invest in data, analytics and digital solutions.”
The deal still needs to regulatory approval in the UK with the competition authorities expected to examine it closely; the deal could be finalised around March next year.
The deal will also likely lead to thousands of job losses.
- November 16
Chinese private equity firm is looking at selling the Hong Kong insurer.
- November 15
The investment in Royal Sundaram General Insurance expands Ageas's presence in the Indian market.
- November 2
Global insurance deals reached a post-crisis record, with 14 purchases over €500m.
- October 31
RenRe's chief executive Kevin O'Donnell is happy to complete deal.