MMC revenue up 16% in Q2 as Guy Carp faltersIn its first results since the integration of recently acquired Jardine Lloyd Thompson Group (JLT), Marsh & McLennan Companies (MMC) has reported solid consolidated revenue in the second quarter of $4.3bn, an increase of 16 percent compared with the second quarter of 2018.
Broker M&A – was the $5.6bn JLT deal worth it?The performance of the big three brokers’ shares since Marsh & McLennan Companies’ £4.3bn ($5.6bn) acquisition of JLT in September begs the clickbait headline question: was the deal worth the hassle?
US exec Johnson resigns from JLT ReThe former head of JLT Re’s transportation team in North America Horace “JJ” Mann Johnson has resigned from the firm as it is integrated into Guy Carpenter’s operations following the MMC takeover earlier this year, The Insurer can reveal.
Lockton Re trio argues Guy Carp’s claims not valid in new filingThree Lockton Re executives have made a new filing in their dispute with Guy Carpenter, saying their former employer’s claims of violations of their fiduciary duties and restrictive covenant agreements (RCAs) are “an illegitimate attempt to stifle fair competition”.
RKH takes JLT’s MENA specialty head MockettHyperion-owned RKH Specialty has hired Dubai-based Richard Mockett, The Insurer can reveal.
JLT’s CEO of Private Client Services Downey latest to departThe chief executive of JLT’s Private Client Services (PCS) Warren Downey is the latest high-profile exit from the broking house since MMC’s takeover closed in April, The Insurer can reveal.
JLT seeks £10mn recoveries from Hyperion as legal proceedings roll onFollowing our revelation that MMC-owned JLT had begun legal proceedings in the UK against the London-headquartered intermediary Hyperion in the wake of a flurry of high-profile resignations, The Insurer examines JLT’s claim for £10mn in recoveries.
TigerRisk confirms JLT Re binding authority and program hiresTigerRisk has appointed Neill Cotton and Mark Sleet partners at the expansive broking house in a move first revealed by The Insurer earlier this month.
NA casualty chief Holtmeier to leave JLT ReGregg Holtmeier, who was North American casualty team leader at JLT Re, is set to leave the firm as its operations are integrated with Guy Carpenter, The Insurer can reveal.
Ex-JLT aerospace exec Klevens returns to Willis Towers WatsonFormer JLT Specialty USA aerospace president Jason Klevens is set to join Willis Towers Watson after this publication revealed the executive declined a move to rival AJ Gallagher.
Price Forbes launches security risks practice with JLT trioArdonagh-owned Price Forbes has launched a security risks practice, hiring a three-strong team from JLT to set-up the new division at the London-based wholesale broker.
Lloyd’s reveals advisory committees to execute turnaroundLloyd’s has revealed the make-up of its global and London advisory committees as the corporation prepares to execute CEO John Neal’s sweeping turnaround strategy for the market.
Payne resigns from JLT Specialty USA after MMC takeoverDavid Payne, who held the position of chief revenue officer at JLT Specialty USA, has resigned from the firm in the aftermath of its acquisition by MMC, The Insurer can reveal.
Former JLT Specialty USA exec Turk joins expansive NFPFormer JLT Specialty USA executive Doug Turk has re-emerged at NFP as the latest high-profile hire by the expansive private equity-backed retail broker.
Marsh bolsters real estate practice with Hyperion head following defectionsMarsh has hired Hyperion’s Mark Lumley to build out its depleted UK real estate team following the departure of Nigel Todd and Steve Moore to the rival David Howden-led firm earlier this year.
TigerRisk execs Feldman and Freer win PI against Guy Carp in CaliforniaA California court has issued a preliminary injunction against Guy Carpenter and Marsh & McLennan Companies in the dispute over two executives that joined TigerRisk.
Former JLT US aviation executives decline Gallagher moveThree former senior aviation executives at JLT are understood to have declined an offer to join rival broking house Gallagher following the £190mn transfer of JLT’s aerospace business to the Illinois-headquartered firm, The Insurer understands.
Lockton Re execs seek to have bulk of GC complaint dismissedLockton Re executives Tim Gardner, Nick Durant and Claude Yoder have filed a motion in New York to have counts brought against them by their former employer Guy Carpenter alleging client solicitation and breach of fiduciary duties dismissed.
Aon Securities hires former JLT capital markets duoThe former co-heads of JLT Capital Markets, Rick Miller and Michael Popkin have resurfaced at Aon Securities – Aon’s investment banking division.
Howden: “You don’t own people” as MMC legal actions mountLondon and US brokers are capitalising on the fall-out from the $5.6bn JLT acquisition but its new owner is fighting back through the Courts