Marsh completes Bluefin deal

Marsh is to buy Axa subsidiary Bluefin Insurance Group for £295m in an agreement thought to be completed in the first quarter of 2017. On completion, Marsh will amalgamate Bluefin and Jelf to create one business unit headed by Jelf CEO Phil Barton who will be supported by a management team combining staff from both firms. This unit will bring together two leading community brokers with complementary regional offices across the UK, serving over 250,000 clients in 80 locations. The broker will provide technical advice, bespoke products and distinctive services including claims consultancy and risk management, along with intelligent risk insights that will enable companies to address emerging risks such as cyber and people-related issues through a strong employee benefits team. Mark Weil, Marsh CEO for UK & Ireland said, "We want to make sure that businesses of all sizes are getting the very best risk and insurance advice to help them navigate the uncertainties of today's environment. Bringing the Bluefin and Jelf teams together will give us a great platform to do just that. We are investing in new policies, products and analytic tools to help businesses make informed choices on how best to manage the risks they face. Under Rob Organ, Bluefin have built a fantastic business and we look forward to welcoming him and his colleagues to the firm."