The Compass Blog
JLT ACQUIRES A LEADING TRADE CREDIT AND POLITICAL RISK BROKER IN THE US
February 28, 2018
JLT further strengthens its US Specialty business with key acquisition
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 International Risk Consultants (IRC), a major US specialist trade credit and political risk broker.
Based in Columbus, Ohio, and operating across US, Brazil, China and Hong Kong, IRC provides trade credit, single-and-multi-buyer, and political risk insurance.
The acquisition creates an industry-leading capability which combines IRC’s deep-rooted credit and political risk specialty expertise with JLT’s global credit, political and security (CPS) risk resources and position as a CPS risk specialist.
JLT and IRC share a strong strategic and cultural fit as specialist brokers, and already work together serving a number of JLT’s global CPS clients. IRC’s product specialties align with JLT’s global CPS risk capabilities.
From today IRC companies will be rebranded JLT Specialty USA CPS practice, JLT Asia CPS practice and JLT Brazil CPS practice.
Nick Robson CEO of JLT Specialty Limited CPS Division, said: “JLT’s CPS practice and the IRC team are committed to helping our clients secure growth and deliver results wherever they trade and invest. The combination of our existing leading international CPS business in Europe, MEA and Asia, with IRC’s strength in the USA, Asia and Brazil will create the world’s leading CPS practice, delivering marketing leading international risk and insurance expertise with local service on a global basis.”
Mike Rice, Executive Chairman of JLT Specialty US said: “IRC and JLT share a profound commitment to specialty expertise and to putting the client first. This transaction is consistent with the key pillars of JLT’s strategy - focusing and growing in specialist industry and product areas and building its global reach to better serve our clients.”
Ed Yauch, President & CEO of International Risk Consultants, said: “IRC has found a home within JLT. This seems like a natural next step as we have known some of their principals and partners for over twenty years. This acquisition magnifies our global capabilities and accelerates our growth opportunities with large corporates and global financial institutions alike. We are excited to join JLT, and with their global framework and specialized expertise we will continue to deliver customized solutions for our clients.” Read more.
Originally posted on JLT.com