JLT Acquires Majority Stake in Construction Risk Partners

Jardine Lloyd Thompson Group plc (JLT), a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services, has acquired a majority stake in Construction Risk Partners LLC (CRP), a construction risk and surety specialty insurance broker.

The partnership means added scale, specialist construction capability and market presence for JLT Specialty USA, which aligns well with the group’s strategy to build out its U.S. Specialty business.

Through this acquisitions, CRP provides JLT with a platform to accelerate the expansion of its construction business, adding capability in the North American market to JLT’s global specialty strength in construction.

CRP will in turn have access to JLT’s global resources to support its continued expansion across the U.S. and introduce JLT’s wider specialist insurance products to its clients.

JLT and CRP already work closely together serving a number of JLT’s global construction clients, as CRP’s product specialties align with JLT’s global construction capabilities.

All of CRP’s management team members will remain with the business going forward, which will be referred to as Construction Risk Partners, a JLT Group company.

Source: Jardine Lloyd Thompson Group plc