Jardine Lloyd Thompson Group plc (JLT) has acquired International Risk Consultants (IRC), a leading U.S. broker specialising in trade credit, single-and-multi-buyer, and political risk insurance.
The acquisition will see IRC positioned as a risk specialist within JLT’s global credit, political and security (CPS) risk resources.
IRC’s trade credit and political risk specialties align with JLT’s global CPS risk capabilities, and the insurers share strategic aims as specialist brokers. They have already worked together to serve some of JLT’s CPS clients.
CEO of JLT Specialty Limited CPS Division, Nick Robson, said of the acquisition: “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 U.S., added that the transaction was “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.”
The President and CEO of IRC, Ed Yauch, also expressed his support for the deal, saying: “IRC has found a home within JLT … This acquisition magnifies our global capabilities and accelerates our growth opportunities with large corporates and global financial institutions alike.”
IRC’s companies operate across the U.S., Brazil, and China, and will now be rebranded as JLT Specialty USA CPS practice, JLT Asia CPS practice and JLT Brazil CPS practice.
The acquisition follows an announcement from JLT which outlined its plans for strategic restructuring and a transformation programme to position itself for ongoing growth.
