JLT MERGES LONDON MARKET SPECIALTY DIVISIONS

Jardine Lloyd Thompson is to merge two business units to create a London market focused specialty division. JLT Specialty and Lloyd & Partners will combine to form a single unit that will have the scale and international reach to meet the demands of its clients. Until the merger takes effect on January 1, 2015, John Lloyd, the current CEO of Lloyd & Partners, will head JLT Specialty as CEO and Adrian Girling, the current chairman of JLT Specialty, will be appointed chairman of Lloyd & Partners. After the merger completes, Lloyd and Girling will become CEO and chairman respectively of the combined business which will trade as JLT Specialty. Martin Hiller, current CEO of JLT Specialty, will become CEO of JLT EMEA. The group said it will provide more details on integration costs and savings as part of its preliminary results announcement in March 2015.