Marsh agrees buyout deal with JLT's Construction Risk Partners

Broker Marsh and Construction Risk Partners (CRP), a specialty broker dedicated to the US construction industry, have entered an agreement whereby CRP management will buy back the company’s stock from JLT Specialty USA.

Effective immediately, CRP will operate as an independent construction risk and surety specialty insurance broker and maintain its headquarters in Branchburg, New Jersey.

Jardine Lloyd Thompson (JLT)  purchased a 50.1 percent stake in CRP in January 2017. Marsh & McLennan Companies completed the acquisition of JLT in April 2019.

“At CRP, our clients have a trusted partner with a reputation for unparalleled expertise and insight. We have great respect for JLT and Marsh, but we look forward to building an exciting future as an independent specialty construction broker,” said Joe Charczenko, Partner.

Rob McDonough, US construction practice leader, Marsh JLT Specialty, added: “Marsh will continue to serve construction clients through the more than 600 construction experts across the US who provide advice, risk transfer solutions, and claims advocacy to more than 2,000 contractors and subcontractors.”

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