JLT will pay £22m to settle its legal dispute with Willis after JLT poached a 22-strong team of specie brokers from Willis.
Willis sued JLT Group, JLT Specialty and specie team head David Gordon in April 2015 for “conspiracy and for breach of duty and wrongful interference” in the proposed sale of Willis’s fine art, jewellery and specie team to Miller Insurance Services.
The £22m includes the settlement amount itself and associated costs.
The amount will be charged to JLT’s second quarter results, and will be treated as an exceptional item.
JLT said in a stock exchange announcement: “Terms of the settlement are final and confidential and the matter is now closed.”
A 20-day trial had been due to start on 18 April.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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