NEW YORK--(BUSINESS WIRE)--Apr. 1, 2019--
Marsh & McLennan Companies, Inc. (NYSE:MMC) today completed the
acquisition of Jardine Lloyd Thompson Group plc (JLT) for $5.6 billion
in fully diluted equity value, furthering its role as the world's
preeminent professional services firm in the areas of risk, strategy and
"Today marks the beginning of a new era with Marsh & McLennan and JLT
coming 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.
Market Leader in Risk, Strategy & People
The acquisition advances Marsh & McLennan's leadership position in
insurance and reinsurance brokerage, health and retirement. Its global
reach spans more than 130 countries. Marsh & McLennan Companies advises
95 percent of the Fortune 1000®1 and has significantly
expanded its presence in the middle market and small commercial
segments. The combined company provides advice and solutions for more
than $100 billion of annual property/casualty insurance and reinsurance
premiums placed globally.
Formidable Collection of Talent
JLT brings Marsh & McLennan a significant influx of talent – more than
10,000 colleagues – providing deeper industry expertise in almost every
part of the organization. The combination will create more opportunities
for colleagues. Many of JLT's top executives have been named to
leadership positions at Marsh & McLennan, Marsh, Guy Carpenter and
Mercer including former JLT CEO Dominic Burke, who joins Marsh &
McLennan as Vice Chairman and a member of the Executive Committee. Mr.
Glaser said, "Our aspiration is to shape our industries and be the
employer of choice."
Enhancing Capabilities, Growth & Investment in Data & Analytics
The acquisition builds on Marsh & McLennan's efforts to expand in
faster-growing geographies and market segments and invest in data and
analytics while enhancing its capabilities across insurance brokerage,
retirement and benefits.
Financially Attractive for Shareholders
As previously announced, the transaction is expected to be immediately
accretive to adjusted cash EPS and, as modeled, will produce a
double-digit internal rate of return. On an adjusted GAAP EPS basis, the
deal is expected to be modestly dilutive in year one, neutral in year
two, and accretive in year three.
About Marsh & McLennan Companies
& McLennan (NYSE: MMC) is the world's leading professional
services firm in the areas of risk, strategy and people. The company's
75,000 colleagues advise clients in over 130 countries. With 2018
revenue of $15 billion, Marsh & McLennan helps clients navigate an
increasingly dynamic and complex environment through four market-leading
advises individual and commercial clients of all sizes on insurance
broking and innovative risk management solutions. Guy
Carpenter develops advanced risk, reinsurance and capital strategies
that help clients grow profitably and pursue emerging opportunities. Mercer
delivers advice and technology-driven solutions that help organizations
meet the health, wealth and career needs of a changing workforce. Oliver
Wyman serves as a critical strategic, economic and brand advisor to
private sector and governmental clients. For more information, visit mmc.com,
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and Twitter @mmc_global
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Source: Marsh & McLennan Companies, Inc.
Marsh & McLennan Companies
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