Marsh’s big spending in the UK could continue
Marsh will continue to eye acquisitions opportunities post-Jelf, says UK chief executive Mark Weil.
Following Marsh’s successful £258m bid for Jelf, Weil was asked by Insurance Times if the deal-making in the UK would end.
In the last year Marsh has snapped up Aberdeen-based energy specialist Central Insurance Services, small business digital specialist SMEi and now Jelf.
But Weil said Marsh would continue to look at opportunities in the UK that would make a ‘truly great combination’ and the purchases that would be good at ‘adding scope’ for its customers.
Following the Jelf deal, Marsh will now have to integrate the business into its UK structure. Weil said it was still very early days and there were “no detailed plans”.
He stressed that the well managed Jelf was an outstanding addition to Marsh, helping expand its footprint across the higher market, mid market and especially SME.
Jelf chief executive Alex Alway said Jelf’s experience in integration would help, as it had successfully incorporated more than 40 acquisitions into the business.
Jelf’s insurer partners are now understood to be watching the situation closely to see if there will be any changes to the broker’s distribution strategy once Marsh finally takes over.