Dominic Burke, who has been running JLT for 13 years, said it was a "bittersweet day, and for me an emotional one" but promised that the FTSE 250 company would prosper under its new owners. Marsh & McLennan has agreed to purchase UK-based insurance broker Jardine Lloyd Thomson for a reported £4.3bn ($5.7bn). The deal is expected to close in the second half of this year, and will create one of Europe's biggest insurers. The combined entities will have a workforce of approximately 75,000. US-based Marsh, however, says it expects to cut between 2% and 5% of personnel. Job cuts will come from broad range of divisions, including finance, HR and IT, the company noted.
Marsh & McLennan has agreed to purchase UK-based insurance broker Jardine Lloyd Thomson for a reported £4.3bn ($5.7bn). The deal is expected to close in the second half of this year, and will create one of Europe's biggest insurers. The combined entities will have a workforce of approximately 75,000. US-based Marsh, however, says it expects to cut between 2% and 5% of personnel. Job cuts will come from broad range of divisions, including finance, HR and IT, the company noted.