March 22, 2019 / 3:32 PM / a year ago

EU approves purchase of Jardine Lloyd Thompson by Marsh & McLennan

BRUSSELS, March 22 (Reuters) - EU regulators approved the acquisition of British insurer Jardine Lloyd Thompson Group by U.S. peer Marsh & McLennan Companies on Friday, subject to JTL’s divestment of its global aerospace practice.

The EU executive said the two global insurance brokers specialised in large and complex insurance risks in sectors such as aviation had proposed the plan to seek a buyer for JTL’s aerospace practice, it said in a statement

“These commitments fully address the (European) Commission’s concerns as they remove the entire overlap,” EU regulators said. (Reporting by Alissa de Carbonnel Editing by Foo Yun Chee)

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