Jardine Lloyd Thompson: Difference between revisions
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==History== |
==History== |
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The company was |
The company was established as a division of [[Jardine Matheson]] in 1972. In 1991, Jardine Insurance Brokers was first listed on the [[London Stock Exchange]]. In 1997, it merged with Lloyd Thompson Group to form Jardine Lloyd Thompson Group. In June 2007, it acquired [[Pavilion Insurance]],<ref>{{cite web |url=http://www.investorschronicle.co.uk/Tips/Sell/TipsOfTheWeek/article/20071102/80010734-82f1-11dc-afa4-00144f2af8e8/JARDINE-LLOYD-THOMPSON-JLT.jsp |format= |title=Tips of the Week |publisher=Investors Chronicle |work= |date=1 November 2007}}</ref> and in June 2008, it announced the acquisition of Harman Wicks and Swayne.<ref>{{cite web |url=http://www.insurancedaily.co.uk/2008/06/17/jlt-acquires-harman-wicks-swayne-businesses/ |title=JLT acquires Harman Wicks & Swayne businesses |publisher=Insurance Daily |work= |date=17 June 2008}}</ref> |
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In July 2009, the company launched a new brand which removed the names of the firm ("Jardine Lloyd Thompson"), leaving simply the acronym JLT and an evolution of the pyramid device.<ref>{{cite web|url=http://www.baseonegroup.co.uk/now/2009/08/jlt-brand-refresh-and-website-launch.html |archive-url=https://archive.is/20120724023737/http://www.baseonegroup.co.uk/now/2009/08/jlt-brand-refresh-and-website-launch.html |url-status=dead |archive-date=24 July 2012 |title=JLT brand refresh and website launch |publisher=Base One |date=25 August 2009 }}</ref> In December 2009, the company acquired HSBC Actuaries and Consultants, a UK-based employee benefits and actuarial consultancy firm, for a purchase price of £27.25 million.<ref>{{cite web|url=http://www.insuranceage.co.uk/insurance-age/news/1564056/jlt-acquires-hsbc-insurance-brokers-business|title=JLT acquires HSBC insurance brokers business|publisher=Insurance Age|date=December 2009|accessdate=3 September 2012}}</ref> In January 2010, the company acquired the Iimia Wealth Management (IWM) division of Midas Capital for a cash consideration of £7.25 million<ref>{{cite web|url=http://www.moneymarketing.co.uk/jlt-completes-acquisition-iimia-wealth-management/1005549.article|title=JLT completes acquisition of iimia Wealth Management|publisher=Money Marketing|date=January 2010|accessdate=3 September 2012}}</ref> and in October 2010 the company acquired a majority interest in Orbital Corredores de Seguros, the 4th largest insurance broker in Chile via acquisition of a majority stake in its holding company Alta SA.<ref>{{cite web|url=http://www.propertycasualty360.com/2011/07/05/jlt-acquires-majority-interest-in-chilean-brokerag|title=JLT acquires majority interest in Chilean brokerage|publisher=Property Casualty|date=January 2010|accessdate=3 September 2012}}</ref> |
In July 2009, the company launched a new brand which removed the names of the firm ("Jardine Lloyd Thompson"), leaving simply the acronym JLT and an evolution of the pyramid device.<ref>{{cite web|url=http://www.baseonegroup.co.uk/now/2009/08/jlt-brand-refresh-and-website-launch.html |archive-url=https://archive.is/20120724023737/http://www.baseonegroup.co.uk/now/2009/08/jlt-brand-refresh-and-website-launch.html |url-status=dead |archive-date=24 July 2012 |title=JLT brand refresh and website launch |publisher=Base One |date=25 August 2009 }}</ref> In December 2009, the company acquired HSBC Actuaries and Consultants, a UK-based employee benefits and actuarial consultancy firm, for a purchase price of £27.25 million.<ref>{{cite web|url=http://www.insuranceage.co.uk/insurance-age/news/1564056/jlt-acquires-hsbc-insurance-brokers-business|title=JLT acquires HSBC insurance brokers business|publisher=Insurance Age|date=December 2009|accessdate=3 September 2012}}</ref> In January 2010, the company acquired the Iimia Wealth Management (IWM) division of Midas Capital for a cash consideration of £7.25 million<ref>{{cite web|url=http://www.moneymarketing.co.uk/jlt-completes-acquisition-iimia-wealth-management/1005549.article|title=JLT completes acquisition of iimia Wealth Management|publisher=Money Marketing|date=January 2010|accessdate=3 September 2012}}</ref> and in October 2010 the company acquired a majority interest in Orbital Corredores de Seguros, the 4th largest insurance broker in Chile via acquisition of a majority stake in its holding company Alta SA.<ref>{{cite web|url=http://www.propertycasualty360.com/2011/07/05/jlt-acquires-majority-interest-in-chilean-brokerag|title=JLT acquires majority interest in Chilean brokerage|publisher=Property Casualty|date=January 2010|accessdate=3 September 2012}}</ref> |
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In May 2012, the company acquired Towner Management |
In May 2012, the company acquired Towner Management Group's Barbados business and operations. Towner's US arm, Towner Management Group US, also entered into a joint venture with the JLT Group, resulting in Towner rebranding as JLT Towner.<ref>{{cite web|url=http://www.captivereview.com/news/1713468/jlt-buys-barbados-towner-management-group.thtml |title=JLT buys Barbados Towner Management Group |publisher=Captive Review |date=May 2012 |accessdate=3 September 2012 |url-status=dead |archiveurl=https://web.archive.org/web/20140202165739/http://www.captivereview.com/news/1713468/jlt-buys-barbados-towner-management-group.thtml |archivedate= 2 February 2014 }}</ref> In October 2012 the company acquired Alexander Forbes Consultants and Actuaries for a purchase price of £17 million.<ref>{{cite web|url=http://www.healthinsurancedaily.com/health-insurance/product-area/pmi/article408887.ece|title=JLT acquires Alexander Forbes’ employee benefits business|publisher=Health Insurance Daily|date=October 2012|accessdate=3 September 2012}}</ref> In February 2013, the company acquired Insfield Insurance Brokers Sdn Bhd in Malaysia<ref>{{cite web|url=http://www.insurancejournal.com/news/international/2013/02/01/279638.htm|title=JLT acquires Insfield Insurance Brokers Sdn Bhd|publisher=Insurance Journal|date=February 2013|accessdate=3 September 2012}}</ref> and in May 2013 the company acquired PT GESA Assistance (GESA) and PT Global Asistensi Manajemen Indonesia (GAMI), two Indonesian healthcare management and third party administration service providers, combining them to form PT JLT GESA.<ref>{{cite web|url=http://www.insuranceinsight.com/insurance-insight/news/2267805/jlt-acquires-in-indonesia |title=JLT acquires in Indonesia |publisher=Insurance Insight |date=May 2013 |accessdate=3 September 2012 |url-status=dead |archiveurl=https://web.archive.org/web/20130901111132/http://www.insuranceinsight.com/insurance-insight/news/2267805/jlt-acquires-in-indonesia |archivedate= 1 September 2013 }}</ref> |
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[[File:St_Botolphs_Building,_London.jpg|thumb |
[[File:St_Botolphs_Building,_London.jpg|thumb|[[St Botolph Building]] in London, the headquarters of Jardine Lloyd Thompson]] |
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Then in September 2013, the company bought [[Towers Watson]] |
Then in September 2013, the company bought [[Towers Watson]]'s reinsurance brokerage business<ref>{{cite web|url=http://www.insuranceage.co.uk/insurance-age/news/2295830/jlt-buys-towers-watson-s-reinsurance-brokerage-business|title=JLT buys Towers Watson’s reinsurance brokerage business|publisher=Insurance Age|date=20 September 2013|accessdate=22 June 2015}}</ref> and in August 2014 it announced that JLT Specialty and Lloyd & Partners would merge and that there would be an expansion of the company's US capabilities.<ref>{{cite web|url=http://www.insuranceage.co.uk/insurance-age/news/2362433/jlt-specialty-and-lloyd-partners-merge|title=JLT Specialty and Lloyd & Partners merge|publisher=Insurance Age|date=29 August 2014|accessdate=3 September 2012}}</ref> In November 2016 it announced the disposal of Thistle, an underwriting arm.<ref>{{cite web|url=http://www.insuranceage.co.uk/insurance-age/news/2477207/jlt-announces-majority-stake-sale-of-thistle-to-pib|title=JLT sells majority stake of Thistle to PIB|date=14 November 2016|publisher=Insurance Age|accessdate=17 December 2016}}</ref> |
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In September 2018 the company agreed to accept an offer from [[Marsh & McLennan Companies]] valuing the company at £4.3 billion.<ref>{{cite web|url=https://www.telegraph.co.uk/business/2018/09/18/jardinelloyd-thompson-bought-bymarsh-mclennanfor-43bn/|title=Jardine Lloyd Thompson to be bought by Marsh & McLennan for £4.3bn|publisher=The Telegraph|date=18 September 2018|accessdate=18 September 2018}}</ref> The transaction was completed on 1 April 2019.<ref>{{cite web|url=https://www.insurancejournal.com/news/international/2019/04/01/522406.htm|title=Marsh & McLennan Completes $5.6 Billion Acquisition of Jardine Lloyd Thompson|publisher=Insurance Journal|date=1 April 2019|accessdate=1 April 2019}}</ref> |
In September 2018 the company agreed to accept an offer from [[Marsh & McLennan Companies]], valuing the company at £4.3 billion.<ref>{{cite web|url=https://www.telegraph.co.uk/business/2018/09/18/jardinelloyd-thompson-bought-bymarsh-mclennanfor-43bn/|title=Jardine Lloyd Thompson to be bought by Marsh & McLennan for £4.3bn|publisher=The Telegraph|date=18 September 2018|accessdate=18 September 2018}}</ref> The transaction was completed on 1 April 2019.<ref>{{cite web|url=https://www.insurancejournal.com/news/international/2019/04/01/522406.htm|title=Marsh & McLennan Completes $5.6 Billion Acquisition of Jardine Lloyd Thompson|publisher=Insurance Journal|date=1 April 2019|accessdate=1 April 2019}}</ref> |
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==Operations== |
==Operations== |
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The company has operations organised as follows:<ref>{{cite web|url=http://www.jlt.com/what-we-do|title=What we do|publisher=Jardine Lloyd Thompson|accessdate=22 April 2017}}</ref> |
The company has operations organised as follows:<ref>{{cite web|url=http://www.jlt.com/what-we-do|title=What we do|publisher=Jardine Lloyd Thompson|accessdate=22 April 2017}}</ref> |
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* Risk and |
* Risk and insurance |
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** Wealth management |
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:− Wealth Management |
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==References== |
==References== |
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==External links== |
==External links== |
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* {{Official website}} |
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[[Category:Financial services companies established in 1972]] |
[[Category:Financial services companies established in 1972]] |
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Revision as of 10:24, 26 January 2020
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| Company type | Public limited company |
|---|---|
| LSE: JLT | |
| Industry | Insurance broker |
| Founded | 1997 |
| Headquarters | London, England, U.K. |
Area served | Worldwide |
Key people | Geoffrey Howe, Chairman Dominic Burke, CEO |
| Services | Insurance Brokerage Employee Benefits Risk Management |
| Revenue | £1,438.4 million (2018)[1] |
| £254.1 million (2018)[1] | |
| £54.3 million (2018)[1] | |
Number of employees | 10,453 (2018)[2] |
| Parent | Marsh & McLennan Companies |
Jardine Lloyd Thompson Group plc, also known as JLT Group or simply JLT, is a British multinational corporation that has its headquarters in London, England. It provides insurance, reinsurance, employment benefits advice and brokerage services. It was a constituent of the FTSE 250 Index until it was acquired by Marsh & McLennan Companies in April 2019.
History
The company was established as a division of Jardine Matheson in 1972. In 1991, Jardine Insurance Brokers was first listed on the London Stock Exchange. In 1997, it merged with Lloyd Thompson Group to form Jardine Lloyd Thompson Group. In June 2007, it acquired Pavilion Insurance,[3] and in June 2008, it announced the acquisition of Harman Wicks and Swayne.[4]
In July 2009, the company launched a new brand which removed the names of the firm ("Jardine Lloyd Thompson"), leaving simply the acronym JLT and an evolution of the pyramid device.[5] In December 2009, the company acquired HSBC Actuaries and Consultants, a UK-based employee benefits and actuarial consultancy firm, for a purchase price of £27.25 million.[6] In January 2010, the company acquired the Iimia Wealth Management (IWM) division of Midas Capital for a cash consideration of £7.25 million[7] and in October 2010 the company acquired a majority interest in Orbital Corredores de Seguros, the 4th largest insurance broker in Chile via acquisition of a majority stake in its holding company Alta SA.[8]
In May 2012, the company acquired Towner Management Group's Barbados business and operations. Towner's US arm, Towner Management Group US, also entered into a joint venture with the JLT Group, resulting in Towner rebranding as JLT Towner.[9] In October 2012 the company acquired Alexander Forbes Consultants and Actuaries for a purchase price of £17 million.[10] In February 2013, the company acquired Insfield Insurance Brokers Sdn Bhd in Malaysia[11] and in May 2013 the company acquired PT GESA Assistance (GESA) and PT Global Asistensi Manajemen Indonesia (GAMI), two Indonesian healthcare management and third party administration service providers, combining them to form PT JLT GESA.[12]
Then in September 2013, the company bought Towers Watson's reinsurance brokerage business[13] and in August 2014 it announced that JLT Specialty and Lloyd & Partners would merge and that there would be an expansion of the company's US capabilities.[14] In November 2016 it announced the disposal of Thistle, an underwriting arm.[15]
In September 2018 the company agreed to accept an offer from Marsh & McLennan Companies, valuing the company at £4.3 billion.[16] The transaction was completed on 1 April 2019.[17]
Operations
The company has operations organised as follows:[18]
- Risk and insurance
- Advice and consultancy
- Captive management
- Employee benefits
- Pension and retirement services
- Health, risk and benefits
- Investment services
- Wealth management
References
- ^ a b c "Annual Results 2018". Jardine Lloyd Thompson Group. Retrieved 18 March 2019.
- ^ "Jardine Lloyd Thompson". City Wire. Retrieved 18 March 2019.
- ^ "Tips of the Week". Investors Chronicle. 1 November 2007.
- ^ "JLT acquires Harman Wicks & Swayne businesses". Insurance Daily. 17 June 2008.
- ^ "JLT brand refresh and website launch". Base One. 25 August 2009. Archived from the original on 24 July 2012.
- ^ "JLT acquires HSBC insurance brokers business". Insurance Age. December 2009. Retrieved 3 September 2012.
- ^ "JLT completes acquisition of iimia Wealth Management". Money Marketing. January 2010. Retrieved 3 September 2012.
- ^ "JLT acquires majority interest in Chilean brokerage". Property Casualty. January 2010. Retrieved 3 September 2012.
- ^ "JLT buys Barbados Towner Management Group". Captive Review. May 2012. Archived from the original on 2 February 2014. Retrieved 3 September 2012.
- ^ "JLT acquires Alexander Forbes' employee benefits business". Health Insurance Daily. October 2012. Retrieved 3 September 2012.
- ^ "JLT acquires Insfield Insurance Brokers Sdn Bhd". Insurance Journal. February 2013. Retrieved 3 September 2012.
- ^ "JLT acquires in Indonesia". Insurance Insight. May 2013. Archived from the original on 1 September 2013. Retrieved 3 September 2012.
- ^ "JLT buys Towers Watson's reinsurance brokerage business". Insurance Age. 20 September 2013. Retrieved 22 June 2015.
- ^ "JLT Specialty and Lloyd & Partners merge". Insurance Age. 29 August 2014. Retrieved 3 September 2012.
- ^ "JLT sells majority stake of Thistle to PIB". Insurance Age. 14 November 2016. Retrieved 17 December 2016.
- ^ "Jardine Lloyd Thompson to be bought by Marsh & McLennan for £4.3bn". The Telegraph. 18 September 2018. Retrieved 18 September 2018.
- ^ "Marsh & McLennan Completes $5.6 Billion Acquisition of Jardine Lloyd Thompson". Insurance Journal. 1 April 2019. Retrieved 1 April 2019.
- ^ "What we do". Jardine Lloyd Thompson. Retrieved 22 April 2017.
