Investment - Articles - Marsh to form new business called Marsh JLT Specialty


Marsh announced the formation of Marsh-JLT Specialty. Marsh-JLT Specialty will be a new specialty business within Marsh that combines the specialty teams of Marsh and Jardine Lloyd Thompson Group plc (JLT), effective upon closing of the transaction between Marsh’s parent company, Marsh & McLennan Companies and JLT, which remains subject to the receipt of certain antitrust and financial regulatory approvals.

 “It’s exciting to begin planning for the integration of Marsh and JLT. With the formation of Marsh-JLT Specialty, we will be well positioned to grow our specialty business through the combined value proposition of the two firms,” said John Doyle, President and CEO of Marsh. “While our brand is Marsh, Marsh-JLT Specialty will leverage the exceptional reputations of both firms’ specialty units with clients that require specialized products and services.” 

 In addition to becoming Vice Chairman of Marsh & McLennan Companies and a member of the Marsh & McLennan Executive Committee, Dominic Burke, currently CEO of JLT Group, will become Chairman of Marsh-JLT Specialty. He will continue to be located in London.

 Lucy Clarke, CEO of JLT Specialty, will become President, Marsh-JLT Specialty reporting to Mr. Doyle. In this London-based role, Ms. Clarke will be directly responsible for Marsh-JLT Specialty’s Energy, Credit, Marine, Financial and Professional, Private Equity and M&A (PEMA), Construction, and Aerospace business worldwide. Ms. Clarke will become a member of the Marsh Executive Committee.

 Mark Drummond Brady, Deputy Group CEO of JLT Group, will become Vice Chairman of Marsh, reporting to Mr. Doyle. He will continue to be located in London. Mr. Drummond Brady will become a member of the Marsh Executive Committee.

 Dean Klisura will be named President, Marsh Global Placement. In this capacity, Mr. Klisura will be responsible for placement protocols and standards across all lines within Marsh. He will also lead the non-specialty placement operations of Marsh, including Bowring Marsh and existing multi-line placement hubs. Mr. Klisura will continue to report to Mr. Doyle and serve as a member of the Marsh Executive Committee. Mr. Klisura is located in New York.

 Mr. Burke commented: “I am proud of what JLT’s people, brand and experience can offer the specialty clients of Marsh and JLT, bringing together the best of our two firms. I look forward to working with Marsh colleagues on a successful integration and in leading this industry in exceptional client service and risk expertise through Marsh-JLT Specialty.”

  

Back to Index


Similar News to this Story

Forecasts of over ten percent but millennials expect more
Investors globally are exceedingly optimistic in their expectations for returns for the coming years, according to Schroders Global Investor Study 201
Foresters Friendly Society select AXA Investment Managers
Foresters Friendly Society (Foresters), the mutual insurance provider protecting families since 1834, has appointed AXA Investment Managers (AXA IM) t
One in three retail investors influenced by social media
New research from Willis Owen reveals 34% of UK retail investors have made at least one change to their investments over the past 12 months as a resul

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.