DC Advisory has advised Banca March on the sale of a minority stake in its insurance broking business to Jardine Lloyd Thompson Group plc (JLT).
Banca March, which boasts one of the highest solvency ratios amongst European banks, is a privately held group focused mainly on private banking, asset management and corporates / SMEs.
In its effort to support March Unipsa’s clients’ international expansion, Banca March engaged DC Advisory Partners to establish a stable alliance with an international insurance broking group.
DC Advisory identified suitable candidates, and designed a transaction structure which included the international partner taking a minority stake in Banca March’s insurance broking unit.
Following the transaction, which is subject to regulatory approval, JLT will have a 25% stake in the combined business, to be re-branded March JLT, which will become a JLT Network Partner. As part of the transaction, March JLT will acquire JLT's existing Spanish business.
JLT is an international group of risk specialists and employee benefits consultants and one of the largest companies of its type in the world. JLT is quoted on the London Stock Exchange and provides services in more than 130 countries through the JLT International Network.
DC Advisory has acted as sole financial advisor to Banca March on this transaction.