Mumbai: Insurance broker and risk adviser, Marsh, announced the acquisition of JLT Independent Insurance Brokers.
JLT Independent provides insurance, reinsurance and employee benefits related advice, brokerage and associated services in the country.
The transaction, which is subject to regulatory approvals, is expected to close in the first quarter of 2020, a press release said.
"With shared client-centric values and a commitment to the highest levels of integrity, the combined organisation will be the country's pre-eminent professional services firm in the areas of risk, strategy and people," Marsh India country head and CEO, Sanjay Kedia, said.
This follows the acquisition of JLT Group by Marsh & McLennan Companies, which was completed in April 2019.
JLT Independent has also appointed Mohit Agarwal, formerly Employee Health & Benefits Leader of Marsh India, as CEO with immediate effect.
Formed in 2003, JLT Independent was a joint venture between Jardine Lloyd Thompson Group plc (JLT Group) and India-based Sunidhi Group.
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