Insurance broking and risk management Marsh has completed the acquisition of UK-based insurance broker Jelf Group, for around £258m.
The deal was first announced by both firms in September this year.
Established in 1989, Jelf offers insurance brokerage and financial services to the customers in the UK.
With around 36 offices across the country, Jelf provides services to around 100,000 businesses and individuals on matters pertaining to insurance, healthcare, employee benefits and financial planning.
The acquisition allows Marsh to provide its products to individuals and small and medium-sized enterprises (SMEs), as well as to expand its operations in the UK mid and large-sized corporate segment.
The combined operation will also get assistance from the on-line and telephone capabilities of SME Insurance Services, which was recently purchased by Marsh.
Marsh UK & Ireland CEO Mark Weil said: "The addition of the team at Jelf strengthens the advice and products we provide to individuals and companies of all sizes across the UK."
Jelf Group chief executive Alex Always said: "I have been encouraged by the positive response we have received from clients and colleagues alike over the last few weeks."
In August this year, Marsh also agreed to acquire Dovetail Insurance, which offers insurance technology services to the small commercial market in the US.
Image: Marsh & McLennan headquarters at 1166 6th Avenue in New York City. Photo: courtesy of Americasroof.