Reinsurance brokerage JLT Re, a subsidiary of Jardine Lloyd Thompson Group (JLT), has announced the acquisition of StoneHill Reinsurance Partners, LLC (StoneHill), a reinsurance intermediary that specialises in Medical Professional Liability business.
StoneHill was established in 2012 by Dan Koshiol as an independent casualty reinsurance brokerage, based in Minneapolis, Minnesota, with a dedication to the Medical Professional Liability sector. Following the acquisition by reinsurance broker JLT Re, the StoneHill team, which is led by Koshiol and Chip Ott, will join the JLT Re (North America) division, effective immediately.
“This acquisition will strengthen JLT Re’s position as a market leader in the Medical Professional Liability space by bringing together two complementary businesses that have longstanding professional relationships and expertise. StoneHill shares our core values and our commitment to excellent client service. This makes the combination a very strong business and cultural fit for both organizations,” said Ed Hochberg, Chief Executive Officer (CEO) of JLT Re (North America) Inc.
The acquisition enables JLT Re to expand its presence in the North American marketplace, adding Minneapolis to its list of operational locations. Furthermore, the transaction, of which terms were not disclosed, provides StoneHill clients with access to the JLT Re platform, and analytical expertise.
President and CEO of StoneHill, Koshiol said; “We are delighted to join JLT Re and believe it is the right home for both our employees and our clients; we look forward to enhancing our current client offerings with the resources of the JLT Re platform. We are proud of the impressive client base in Medical Professional Liability and healthcare related business that we have built at StoneHill, and we look forward to continued growth and success at JLT Re.”