Hyperion and JLT reach settlement over employee exodus

JLT Specialty, now owned by Marsh & McLennan, and Hyperion have reached a confidential settlement of a lawsuit initiated by JLT in relation to a number of its employees who left to join Hyperion.

As part of the settlement, the parties have agreed that the relevant employees will continue to be bound by their obligations to JLT, including their notice periods and post-termination restrictive covenants.

JLT has been rocked by a number of defections to Hyperion in the past year. Global specialty head of JLT’s financial lines group Mark Wood, together with senior brokers Sarah Hughes, Adam Codrington and Nigel Todd, left in May 2019, a few months after JLT was bought by US broker Marsh & McLennan for £4.3 billion.

Their departure was followed by the departure of Nigel Todd’s real estate team and Duncan Fraser and his entertainment team, all of whom joined Hyperion.