Jardine Lloyd Thompson agrees to acquire part of Alliant Insurance Services' specialty Energy Business
02 October 2014
JLT Specialty Insurance Services Inc. ("JLT USA"), the US subsidiary of Jardine Lloyd Thompson Group plc ("JLT") and Alliant Insurance Services ("Alliant") are today announcing that JLT USA will be purchasing part of Alliant's energy business that focuses on larger and more complex major and international accounts, some of whom are existing international clients of JLT.
This agreement follows JLT's recent announcement of its intention to expand its US Specialty capabilities into key specialty areas, including Energy, Construction, Financial Lines, Credit, Political & Security and Aerospace. This agreement will also enable Alliant to focus more of its efforts within the energy space on those areas where it sees the most opportunity to continue to deliver growth. Alliant and JLT share a longstanding and trusted trading relationship and this transaction therefore represents a strategic arrangement that suits the long-term growth strategies of both firms.
Commenting on today's announcement, Mike Rice, CEO of JLT Specialty Insurance Services Inc. said: "This is a further exciting development in the build-out of our US Specialty capabilities into the energy arena where JLT is already one of the strongest specialty players around the world. Following today's announcement and other hires, we will have grown to over 40 colleagues in just over 1 month since our launch. I am delighted to welcome my new colleagues to JLT and look forward to continuing our close relationship with Alliant into the future."
Tom Corbett, Chairman and CEO of Alliant added "The transaction aligns with our company's strategy for delivering targeted growth in the energy sector. We are excited about our continued activity in the energy space and will continue to expand our energy portfolio through organic growth, acquisitions, and outstanding service."
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JLT Specialty Insurance Services Inc.
Head of JLT Group Corporate Communications
T: +44 20 7528 4933
Dania Saidam (UK)
+44 (0) 20 7404 5959
Beatriz Garcia (US)
+1 (212) 333 3810
Executive Vice President and Managing Director
Energy and Marine Group
Alliant Insurance Services, Inc.
Notes to Editors
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson is one of the world's leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 41 territories with more than 9,500 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
This announcement may contain "forward looking statements" regarding the financial position, business strategy or plans for future operations of the Group. By their nature, forward looking statements involve risk and uncertainty, relating to facts that are beyond the company's ability to control, such as future market conditions. Any such statements in this announcement speak only as at the date of this announcement. The company does not assume any obligation to, and does not intend to, revise or update these forward looking statements except as required pursuant to applicable law.
About Alliant Insurance Services
Headquartered in Newport Beach, CA, Alliant Insurance Services, Inc. is one of the largest insurance brokerage firms in the United States and has a history dating back to 1925. Alliant provides property and casualty, workers' compensation, employee benefits, surety, and financial products and services to more than 26,000 clients nationwide, including public entities, tribal nations, healthcare, energy, law firms, real estate, construction, and other industry groups. More information is available on the company's website at http://www.alliant.com/.