Marsh & McLennan CEO Daniel Glaser
Marsh & McLennan’s acquisition of JLT has been on the cards for some time. While the two players complement each other in many areas, Marsh has taken on a lot of debt to finance the deal—which may cause it problems. Intelligent Insurer reports.
Marsh & McLennan’s (MMC) management waited years for an opportunity to acquire its competitor JLT. This moment has now arrived.
“JLT makes us stronger in specialty risk broking with deep expertise and capabilities in areas such aerospace, energy and construction.” Dan Glaser, MMCMMC has agreed to acquire Jardine Lloyd Thompson Group (JLT) for roughly $5.6 billion. While executives believe the deal offers a unique opportunity to grow in new geographies and lines of business, some market observers are baffled by the amount of debt that MMC is taking on to shoulder the transaction.
“The acquisition of JLT creates a compelling value proposition for our clients, our colleagues and our shareholders,” said Dan Glaser, chief executive officer of MMC, during an investor call discussing the deal in September.
Marsh & McLennan, Dan Glaser, Acquisition, JLT, Broking, Insurance, Reinsurance, Growth, Global