JLT acquires US trade credit and political risk broker IRC
Broker Jardine Lloyd Thompson Group (JLT) has acquired US-based trade credit and political risk broker International Risk Consultants (IRC) to further strengthen its US specialty business.
Based in Columbus, Ohio, and operating across US, Brazil, China and Hong Kong, IRC provides trade credit, single-and-multi-buyer, and political risk insurance.
Following the transaction, the IRC companies will be rebranded JLT Specialty USA CPS (credit, political and security) practice, JLT Asia CPS practice and JLT Brazil CPS practice.
“JLT’s CPS practice and the IRC team are committed to helping our clients secure growth and deliver results wherever they trade and invest. The combination of our existing leading international CPS business in Europe, MEA and Asia, with IRC’s strength in the USA, Asia and Brazil will create the world’s leading CPS practice, delivering marketing leading international risk and insurance expertise with local service on a global basis," said Nick Robson CEO of JLT Specialty CPS division.
Mike Rice, executive chairman of JLT Specialty US added: “IRC and JLT share a profound commitment to specialty expertise and to putting the client first. This transaction is consistent with the key pillars of JLT’s strategy - focusing and growing in specialist industry and product areas and building its global reach to better serve our clients.”
Ed Yauch, president & CEO of International Risk Consultants, said: “IRC has found a home within JLT. This seems like a natural next step as we have known some of their principals and partners for over twenty years. This acquisition magnifies our global capabilities and accelerates our growth opportunities with large corporates and global financial institutions alike. We are excited to join JLT, and with their global framework and specialized expertise we will continue to deliver customized solutions for our clients.”
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