JLT wins place on Europe's largest aviation deal with Willis

JLT’s aviation team is celebrating today after winning a place on the contract to partner Lufthansa, the largest airline in Europe by passenger and fleet numbers, Insurance Times can reveal.

The mega deal means JLT becomes a co-broker, partnering Willis on the Lufthansa account.

Willis was not involved in any negotiations as its place was always secure as the lead broker, and it will have separate arrangements on the account to JLT.

Aon, which was acting in a minor advisory capacity with Lufthansa’s in-house insurance specialists, is no longer part of the set-up, Insurance Times understands.

A clutch of the top London market brokers were fighting for the deal, but JLT has come out on top to partner Willis on the insurance and risk management set up with the airline.

Willis, Aon and JLT declined to comment.

The JLT and Aon battle

The JLT Aerospace triumph comes just a few years after it moved to poach Aon’s elite aviation team. In 2009, Aon Ltd deputy chairman Jonathan Palmer-Brown left for JLT.

He was later followed by a number of Aon aviation executives including deputy chairman Bill Smith, executive director John Cruise and team leader Steve Turner. Aviation producers Andy Swan and Greg Boothright, also followed out the door to JLT.

JLT’s strategy of poaching top talent and concentrating on its core specialisms is reaping rich rewards. The broker, 40% owned by Asian-based super conglomerate Jardine Mattheson, has led all its rivals on organic growth for two years running.

JLT has notched up impressive organic growth in the 7% region in 2012 and 2011. The broker continues to snap at the heels of its larger rival Aon, although Aon continues to perform strongly and led Insurance Times 2011 Top 50 Brokers in terms of brokerage.

Despite JLT’s big contract win, the wider aviation industry continues to shrink as rates head downward against the backdrop of a low claims environment.