Marsh & McLennan. Marsh & McLennan Completes Acquisition of Jardine Lloyd Thompson
01 April 2019 - 7:18PM
UK Regulatory
TIDMMHM
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 people.
"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
Marsh & 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 firms. Marsh 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, follow us on LinkedIn and Twitter @mmc_global or
subscribe to BRINK.
_____________________________________
i FORTUNE 1000® is a trademark of FORTUNE Media IP and is used under license.
MEDIA:Erick GustafsonMarsh & McLennan Companies+1 202 263
7788erick.gustafson@mmc.com
INVESTOR:Sarah DeWittMarsh & McLennan Companies+1 212 345
6750sarah.dewitt@mmc.com
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April 01, 2019 04:18 ET (08:18 GMT)
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