30 October 2015 Insurance

Jelf shareholders approve Marsh takeover

UK Insurance broker Jelf has announced that its shareholders have approved the acquisition of the firm by Marsh and McLennan Companies (MMC).

The approval was gained at a court meeting and general meeting held by the firm. A total of 97.6 percent of shareholders voted in favour of the acquisition.

It is aimed that the acquisition will be completed by the end of the year.

Jelf first announced it was in talks with MMC back in August of this year and Marsh agreed to acquire the firm for 215p ($3.3) per share back in September.

Marsh said that the addition of Jelf’s businesses will significantly strengthen its distribution platform through their branches, affinity partners and direct channels.

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