LONDON, Aug. 14, 2019 /PRNewswire/ -- McGill and Partners
has entered into an agreement with Marsh Limited and JLT Specialty
Limited to acquire certain specialty business from Marsh
in London.
This business principally emanates from third-party wholesale,
or independent brokers, who compete with Marsh for retail
business.
Steve McGill, CEO of McGill and
Partners, said, "Our ambitious build out has been accelerated with
this transaction. We look forward to serving clients at a time when
underwriting conditions are more challenging and high-quality
placement expertise is in strong demand."
About McGill and Partners
McGill and Partners is a
specialty risk solutions company focussed on strategic risk
placement and advice for corporate clients. The company
offers clients a differentiated value proposition with
comprehensive access to risk capital globally. The business
is headquartered in London and
will shortly establish a presence in New
York with further operating hubs in other key markets over
time. The continued build out and growth of the business is
being financed through an initial equity commitment of up to
$250m from funds affiliated with
Warburg Pincus and a substantial additional commitment from
management. Significant further capital may also be deployed
to support future business expansion and reinforce the value
proposition.
About Marsh
Marsh is the world's leading
insurance broker and risk adviser. With over 35,000 colleagues
operating in more than 130 countries, Marsh serves commercial and
individual clients with data driven risk solutions and advisory
services. Marsh is a wholly owned subsidiary of Marsh &
McLennan Companies (NYSE: MMC), the leading global professional
services firm in the areas of risk, strategy and people. With
annual revenue over US$15 billion and
75,000 colleagues worldwide, MMC helps clients navigate an
increasingly dynamic and complex environment through four
market-leading firms: Marsh, Guy
Carpenter, Mercer, and Oliver
Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn;
Facebook; and YouTube, or subscribe to BRINK.
Contact
Stephen
Cross
Head of Strategy & Innovation, McGill & Partners
+44 (0)7555727677
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SOURCE McGill and Partners