JLT has acquired Belgium specialty broker Belgibo from EXMAR Group, as it grows its Europe presence and complements its existing Benelux operations.
Belgibo is an Antwerp based specialist broker with strengths in marine, credit and political risks, aviation, cargo, employee benefits, logistics, construction and professional services.
66 Belgibo employees will join JLT as part of the acquisition, to ensure continued smooth servicing of clients throughout the EU.
The purchase comes after Belgibo and JLT have had an over 20 year long close trading relationship, Paul Knowles, Chief Executive Officer (CEO) of JLT Europe, commented; “Belgibo shares a strong cultural alignment to JLT with its client-first approach and specialty-led proposition. Their areas of expertise are aligned to JLT Specialty’s core divisions of marine, credit & political risk, cargo and aviation.
“This acquisition will further strengthen our presence in Europe, creating a business of size and relevance, alongside our current operations in the Netherlands.
“It also provides us with a significant platform in the Benelux region, providing us with momentum to continue to gain significant market share across the specialty markets in which we both operate.”
JLT has a strong presence in Europe, with branded operatives or joint ventures throughout 27 European and CIS countries.
Pierre Derom, CEO of Belgibo, commented; “Belgibo has built up a strong reputation within the insurance market, and our partnership with JLT will help us to further grow and strengthen our business alongside a trusted and like-minded partner as well as give us – and importantly our clients – access to JLT’s global capabilities.
“Bringing together the professional skills, strengths and expertise of two like-minded businesses will significantly enhance our offering to clients and provide further opportunities for growth both nationally and internationally. We are looking forward to working together to build an exciting future for our clients and colleagues.”
