Founded in 1989, Jelf has 37 offices across the UK and provides expert advice to over 100,000 businesses and individuals on matters relating to insurance, healthcare, employee benefits and financial planning. With the acquisition, Marsh would acquire one of the leading independent insurance brokers to the UK’s small and medium-sized enterprises (SMEs) and strengthen its presence in the large and mid-market companies segment. As such, it further develops Marsh’s ability to expand the services it provides UK SMEs, in line with its global ambition in this segment. This interest is demonstrated by Marsh’s recent acquisitions in the UK of Leeds-based SMEi Insurance Services and Aberdeen-based Central Insurance Services.
Jelf and Marsh have a strong cultural fit and share the same values that put the client at the centre of both businesses. The companies believe that the combination of the two firms will offer individuals and companies of all sizes market-leading customer service, advice and products.
The addition of Jelf’s businesses will significantly strengthen Marsh’s distribution platform through their branches, affinity partners and direct channels. They also bring rich capabilities that support their clients, both corporate and individual, across a broad range of risk, insurance and financial services needs. Jelf’s Purple Partnership complements Marsh’s own UK networks business, providing better service for the regional broker market.
Commenting on the announcement, Mark Weil, Marsh’s CEO for UK & Ireland, said:
“Jelf and Marsh are highly complementary businesses, both in terms of business and values. This transaction underlines Marsh’s commitment to setting the standard for providing advice and products that meet the risk, financial services and insurance needs of individuals and companies of all sizes across the UK. We have the highest regard for the management and team at Jelf and expect they will be a huge asset as, together, we provide the market-leading suite of solutions to our clients. We look forward to welcoming Alex and his team to Marsh.”
Alex Alway, CEO of Jelf Group plc, added:
“I am extremely proud of the business that we have built since Jelf was founded in 1989. Every one of our colleagues has contributed to our deserved reputation for developing long-lasting, trusted adviser relationships with our clients. As our clients’ needs have continued to evolve, the Board and executive management team have given much thought about how best we meet their growing expectations. At the same time, we want to ensure that our colleagues are given the greatest opportunities to develop their careers. I am confident that this transaction is great news for our clients and colleagues alike.”
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