JLT and Construction Risk Partners Establish Partnership in the USA
January 27 2017 - 11:34AM
Jardine Lloyd Thompson Group plc (JLT), one of the world's leading
providers of insurance, reinsurance and employee benefits related
advice, brokerage and associated services, has acquired a majority
stake in Construction Risk Partners LLC (CRP), a construction risk
and surety specialty insurance broker in the U.S. Highly regarded
in the industry, CRP counts many of North America’s largest
contractors as clients and acts as the broker of choice for over
150 construction clients. The partnership means added scale,
specialist construction capability and market presence for JLT
Specialty USA, in line with the Group’s strategy to build out its
U.S. Specialty business. CRP provides JLT with a platform to
accelerate the expansion of its construction business, adding deep
capability in the substantial and growing North American market to
JLT’s global specialty strength in construction. CRP will
have access to JLT’s global resources to support its continued
expansion across the U.S. and introduce JLT’s wider specialist
insurance products to its clients.JLT and CRP share a strong
strategic and cultural fit as specialist brokers and already work
closely together serving a number of JLT’s global construction
clients. CRP’s product specialties align with JLT’s global
construction capabilities, which have enabled JLT to become the
broker to many of the world’s contractors and largest construction
projects. CRP has a strong and experienced management team,
all of whom will remain with the business, which will trade as
Construction Risk Partners, a JLT Group company.
Dominic
Burke, JLT Group Chief Executive Officer, said: “Our
partnership with Construction Risk Partners puts us in a strong
position in one of the world’s most attractive construction growth
markets. JLT is already one of the world’s leading
construction risk brokers and advisors, and this important
partnership further strengthens our global capabilities and will
provide a significant complement to our growing U.S. Specialty
business which we launched in 2014.”
Mike Rice, CEO of JLT
Specialty USA, said: “CRP and JLT share a profound
commitment to specialty expertise and to putting the client first.
That's a compelling proposition for our clients, in the US and
globally, who have helped both JLT and CRP gain significant market
share in recent years. Our partnership is a major milestone in the
JLT Specialty USA growth story, establishing a leading position in
a market that matters for construction clients around the
world.”
Al Marquis, Partner, Construction Risk Partners,
said: “At CRP, our clients have a trusted partner
with a reputation for unparalleled expertise and insight. At JLT,
its clients have access to the rigour and advocacy only one of the
world’s largest construction specialists can offer. We are looking
forward to working in partnership to build an exciting future
together.”
NOTES TO EDITORS:
About Jardine Lloyd ThompsonJardine Lloyd
Thompson is one of the world’s leading providers of insurance,
reinsurance and employee benefits related advice, brokerage and
associated services. JLT’s client proposition is built upon its
deep specialist knowledge, client advocacy, tailored advice and
service excellence.
JLT is quoted on the London Stock Exchange and owns offices in
40 territories with more than 10,600 employees. Supported by the
JLT International Network, it offers risk management and employee
benefit solutions in 135 countries.
For further information about JLT, please visit our website
www.jlt.com and follow us on LinkedIn at JLT Group and Twitter
@JLTGroup.
About JLT Specialty USAJLT Specialty USA is the
U.S. platform of the leading specialty business advisory firm,
Jardine Lloyd Thompson Group. Our experts have deep industry and
product experience serving leading U.S. and global firms. Our key
to client success is our freedom to be creative, collaborative, and
analytical while challenging conventions, redefining problems,
creating new analytical insights, and exploring new boundaries to
deliver solutions for each client’s unique business and risks.
For further information about JLT, please visit our website
www.jltus.com and follow us on LinkedIn at JLT Specialty USA and
Twitter @JLTSpecialtyUSA.
ENQUIRIES:
Ashely Deal
VP of Marketing
+1 310-266-9464
ashely.deal@jltus.com
Paul Dransfield
Group Head of Investor Relations
+44 20 7528 4933
paul_dransfield@jltgroup.com
Jardine Lloyd Thompson (LSE:JLT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Jardine Lloyd Thompson (LSE:JLT)
Historical Stock Chart
From Apr 2023 to Apr 2024