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Banca March - Crecemos con valores, crecemos juntosNews

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At Banca March, we want to keep you always informed, and this section gives you the opportunity to find out whatever you want to know about.

06/10/2019

Banca March buys back the 25% of March JLT held by JLT Group and renames the company

  • Banca March has confirmed its clear commitment to the insurance brokerage business by buying back the 25% of March JLT's share capital that was previously held by its partner, JLT Group, raising its own stake in the company from 75% to 100%.
  • The insurance broker, which will continue to be independently managed, will undergo a change of name for this new era, becoming March Risk Solutions (March R.S.)

Banca March has bought the 25% of the insurance broker March JLT that was held until now by the British group Jardine Lloyd Thompson Group (JLT), which has recently been acquired by Marsh & McLennan. This transaction increases Banca March's stake in the broker's share capital to 100%, clearly evidencing its commitment to the future development of the business, which it considers to be a strategic component of its activity.

The broker, founded in 1939, will now become the largest 100% Spanish-owned insurance broker, and will continue to be managed independently, with the unwavering support and backing of the Banca March Group. The company will continue to offer comprehensive insurance cover all over the world to both domestic and multinational clients, working out of its offices in Madrid, Palma de Mallorca, Barcelona, Bilbao, Valencia, Las Palmas, Seville and A Coruña.

A new name for a new era

As it embarks on this new era, the insurance broker will undergo a change of name, becoming March Risk Solutions (March R.S.). The company will continue to offer optimal, tailored insurance solutions in its various areas of specialisation, affording its domestic and international customers the benefit of its experience and expertise, as well as being backed by the support and solvency of the Banca March Group.

March Risk Solutions (March R.S.) boasts a broad team of specialists who take an innovative, creative approach to providing insurance services and solutions based on proactive risk analysis strategies, which allows them to adapt their services to each customer's profile in terms of needs, sector of activity and location.

Banca March CEO José Luis Acea said: “March Risk Solutions (March R.S.) is a crucial component of our strategy in the insurance business, which is why it has always had the backing of the Banca March Group as its majority shareholder. The acquisition of the company's entire share capital is a reflection of the Group's clear commitment to the brokerage and to offering our customers comprehensive, global, tailor-made solutions. Thanks to the excellent services provided and the extensive knowledge of its team, the company has successfully positioned itself as one of the top insurance brokers in the Spanish market."

Alfonso García Larríu, CEO of March Risk Solutions (March R.S.), said: “Becoming fully integrated into the Banca March Group will provide continuity for our business model, which strives to ensure that we offer our customers the very best insurance solutions. This new era will allow us to step up our commitment to offering highly-specialised insurance services, supported by the full backing of a bank that is among the most solvent in Europe and enjoys a proven reputation for outstanding service.¨

 

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