Jardine Lloyd Thompson
| Company type | Public limited company |
|---|---|
| Industry | Insurance, reinsurance, employee benefits consulting, brokerage services |
| Predecessor | Jardine Matheson (Jardine Insurance Brokers), Lloyd Thompson Group |
| Founded | 1972 |
| Defunct | 2019 |
| Fate | Acquired by Marsh McLennan |
| Successor | Marsh McLennan |
| Headquarters | London , United Kingdom |
Area served | Worldwide |
| Products | Risk and insurance, consulting and advisory services, captive insurance management, employee benefits, pension and retirement solutions, health and risk management, investment advisory, wealth management services |
| Owner | Marsh McLennan (since 2019) |
| Parent | Marsh McLennan |
Jardine Lloyd Thompson Group plc (commonly known as JLT Group or simply JLT) was a multinational enterprise based in London, specializing in insurance, reinsurance, employee benefits consulting, and brokerage services. It was publicly traded on the FTSE 250 Index until its acquisition by Marsh McLennan in April 2019.
History
Jardine Insurance Brokers originated as a branch of Jardine Matheson in 1972 and went public on the London Stock Exchange in 1991. The company combined with Lloyd Thompson Group in 1997, resulting in the formation of Jardine Lloyd Thompson Group. Significant acquisitions during its growth phase included Pavilion Insurance in 2007, Harman Wicks and Swayne in 2008, HSBC Actuaries and Consultants for £27.25 million in 2009, Iimia Wealth Management for £7.25 million in 2010, and a controlling interest in Chilean firm Orbital Corredores de Seguros also in 2010.
In 2012, JLT broadened its presence by acquiring Towner Management Group's operations in Barbados and establishing a joint venture involving its US division. The following year, it bought Alexander Forbes Consultants and Actuaries for £17 million and expanded into Malaysia by acquiring Insfield Insurance Brokers. Its growth continued with the integration of Indonesian healthcare providers PT GESA Assistance and PT Global Asistensi Manajemen Indonesia under the name PT JLT GESA.
The company further strengthened its portfolio by acquiring Towers Watson’s reinsurance brokerage business in 2013 and merging JLT Specialty with Lloyd & Partners in 2014 to boost its US market capabilities. In 2016, JLT divested a majority share of its underwriting business, Thistle.
A significant legal event occurred in 2015 when the Court of Appeal upheld an injunction that prevented JLT from engaging in unfair recruitment practices targeting Willis Group employees after a wave of staff departures.
In September 2018, Marsh McLennan reached an agreement to purchase JLT for £4.3 billion, finalizing the acquisition on April 1, 2019.
Operations
JLT’s business activities were organized into two primary divisions:
- Risk and insurance
- Consulting and advisory services
- Captive insurance management
- Employee benefits
- Pension and retirement solutions
- Health, risk management, and benefits administration
- Investment advisory
- Wealth management services