Gallagher completes JLT aerospace acquisition

Gallagher has completed the acquisition of JLT’s global aerospace division.

The deal was first announced earlier this year ahead of Marsh buying JLT.

It expands Gallagher’s aviation footprint into the UK through broker Hayward Aviation, as well as into Continental Europe, North America, Latin America, Asia-Pacific.

The 250-strong global aerospace team and its client base will transfer into Gallagher as part of the asset purchase agreement. JLT’s London market operations, Hayward Aviation and the teams in India, US and Singapore will transition immediately. The remaining countries will move as part of a phased approach, in accordance with local employment and regulatory requirements.

Simon Matson, chief executive of Gallagher’s UK broking and underwriting business, said: “The addition of JLT’s global aerospace operations to our existing aviation team propels Gallagher into a market leadership position within an industry that has seen huge growth over the past 20 years.

“The way the aviation sector, along with other industries, thinks about risk is evolving. It is no longer simply about the detection and containment of risk but rather applying strategic risk management practices to drive growth and face all future eventualities with confidence.

“Over the past decade we have invested in attracting and retaining specialist expertise across all industries to ensure we truly understand the risks associated with the clients and sectors that we serve. We now look forward to playing a greater role as a global partner to the aviation industry.”

Peter Elson, newly appointed chief executive of Gallagher Aerospace, added: “Gallagher is the perfect home for our clients and for our people. The team is excited to be joining forces with a broker-led, specialist risk advisory firm that has earned a strong reputation for helping organisations to successfully navigate the increasingly complex risks they face.

“We look forward to being part of the Gallagher family and building on our existing momentum as the go-to insurance broking partner within the aviation world.”