Marsh & McLennan Companies has agreed to buy Jardine Lloyd Thompson Group, bringing together two of the world’s largest brokers and risk consulting specialists.

Marsh, also the largest captive manager in the world, will pay $5.bn for the JLT Group, which includes JLT Insurance Management.

The board of directors of both MMC and JLT have approved the transaction.

“The acquisition of Jardine Lloyd Thompson creates a compelling value proposition for our clients, our colleagues and our shareholders,” said Dan Glaser, president and CEO of MMC.

“The complementary fit between our companies creates a platform to deliver exceptional service to clients and opportunities for our colleagues.”

It remains to be seen how the acquisition will impact the captive management operations of the two respective firms.

According to Captive Review’s 2017 Captive Manager Survey, Marsh Captive Solutions had 1,495 risk bearing entities under management (including individual cells) writing almost $45bn in annual premium.

JLT Insurance Management had 300 RBEs under management writing $2.2bn in annual premium. Both management firms already have a significant presence in the major captive domiciles around the world.

Dominic Burke, group CEO at JLT, will join MMC as vice chairman and become a member of MMC’s executive committee.

Burke said: “I am enormously proud of what JLT has achieved, founded on our people, our culture and our unwavering commitment to our clients. MMC is, and always has been, one of our most respected competitors and I believe that, combined, we will create a group that will truly stand as a beacon for our industry.”

Source: Captivereview.com 2018-09-18