Gallagher, a global insurance, risk management and consulting services company, today confirmed that the previously announced acquisition of Jardine Lloyd Thompson Group plc’s (JLT) global aerospace operations was completed on 1 June, 2019.
The addition of JLT’s global aerospace retail and wholesale insurance broking operations will significantly expand Gallagher’s existing aerospace team and firmly establish the company as one of the largest aviation brokers in the world.
Gallagher’s expanded global aerospace operations will now have a specialist presence and offices in the UK, Continental Europe, North America, Latin America and Asia-Pacific. Alongside Gallagher’s existing aviation capabilities, the newly strengthened team will offer comprehensive products and services to clients spanning the entire aerospace industry, including airlines, aerospace manufacturers and infrastructure, general aviation and space.
This includes Hayward Aviation, a market leader and innovator in general aviation – such as private jets and helicopters – which will expand its core strength in servicing clients in the UK and Continental Europe to provide global reach from its new home as part of Gallagher.
The 250-strong global aerospace team and its client base will transfer into Gallagher as part of the asset purchase agreement. JLT’s London market operations, Hayward Aviation and the teams in India, US and Singapore will transition immediately. The remaining countries will move as part of a phased approach, in accordance with local employment and regulatory requirements.
Simon Matson, CEO of Gallagher’s UK Broking and Underwriting business, said: “The addition of JLT’s global aerospace operations to our existing aviation team propels Gallagher into a market leadership position within an industry that has seen huge growth over the past 20 years.
“The way the aviation sector, along with other industries, thinks about risk is evolving. It is no longer simply about the detection and containment of risk but rather applying strategic risk management practices to drive growth and face all future eventualities with confidence. Over the past decade we have invested in attracting and retaining specialist expertise across all industries to ensure we truly understand the risks associated with the clients and sectors that we serve. We now look forward to playing a greater role as a global partner to the aviation industry.”
Peter Elson, newly appointed CEO of Gallagher Aerospace, said: “Gallagher is the perfect home for our clients and for our people. The team is excited to be joining forces with a broker-led, specialist risk advisory firm that has earned a strong reputation for helping organisations to successfully navigate the increasingly complex risks they face. We look forward to being part of the Gallagher family and building on our existing momentum as the go-to insurance broking partner within the aviation world.”