Arthur J Gallagher is to buy Jardine Lloyd Thompson’s (JLT) aerospace business in a deal which is set to go through when the Marsh & McLennan Companies’ $5.6bn (£4.3bn) purchase of JLT is finalised in the Spring.
The transaction, for £190m, is subject to approval by the European Commission.
According to a statement from JLT the divestment move has been made in order to address European Commission concerns about potential overlap in aerospace following JLT’s acquisition.
- Three insurance firms on FSCS insolvency list
- Aston Lark confirms Goldman Sachs investment deal
- Blanc expects Goldman Sachs to invest in Aston Lark for 'at least five years'
- Aspen Risk Management to be placed in runoff
- Aviva continues to top Brokerbility members survey
- Esure hires former Aviva UKGI boss David McMillan as CEO
- Blog: The DNA of brokers is changing