JLT acquires Belgian specialty broker Belgibo nv
The acquisition expands and strengthens JLT’s presence in Europe, providing a significant platform in Belgium, complementing our existing Benelux operations, and an enhanced specialty proposition for global clients.
Jardine Lloyd Thompson Group plc (JLT), one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, has acquired specialty broker Belgibo NV (Belgibo) from EXMAR Group.
Based in Antwerp, Belgibo is a leading Belgian specialist broker with a strong client-first advisory approach and commercial strengths in marine, credit and political risks, aviation, cargo, employee benefits, logistics, construction and professional services. The acquisition, which sees 66 colleagues join the JLT Group, will support JLT’s service to clients in all 26 EU and three EEA states after the United Kingdom has left the EU, helping to ensure that our clients continue to benefit from access to the unique capabilities of the London market.
Belgibo and JLT have enjoyed a close trading relationship for more than twenty years, with Belgibo a longstanding member of the JLT International Network. This acquisition adds to JLT’s European capabilities and strengthens the existing platform from which JLT delivers market-leading Specialty advice to clients in the broader Benelux region.
JLT’s European presence comprises owned businesses across Northern Europe and Ireland, together with joint ventures and branded associates in 17 countries to the South and East of the region. In total, JLT has a branded presence in 27 European and CIS countries.
Pierre Derom, CEO of Belgibo, said: ‘Belgibo has built up a strong reputation within the insurance market, and our partnership with JLT will help us to further grow and strengthen our business alongside a trusted and like-minded partner as well as give us – and importantly our clients – access to JLT’s global capabilities.
‘Bringing together the professional skills, strengths and expertise of two like-minded businesses will significantly enhance our offering to clients and provide further opportunities for growth both nationally and internationally. We are looking forward to working together to build an exciting future for our clients and colleagues.’
The full press release can be found here.