Norton Rose Fulbright is advising UK independent insurance broker Jelf Group plc (Jelf) on its recommended acquisition by a group company of global insurance broker and risk advisor Marsh & McLennan Companies Inc (Marsh).

Under the terms of the offer, shareholders in Jelf will receive 215p per share, valuing Jelf at approximately £258 million.

Jelf has 37 offices across the UK and provides expert advice to over 100,000 businesses and individuals on matters relating to insurance, healthcare, employee benefits and financial planning.

The acquisition enables Marsh to expand the services it provides to UK smaller and medium-sized enterprises, strengthening Marsh’s distribution platform through Jelf’s branches, affinity partners and direct channels.

The Norton Rose Fulbright team in London is being led by partners David Whear and Paul Whitelock, and included partner Nick Adams, senior associates Matthew Foster and Nicolas Sirtoli, and trainee solicitor Laura Henry.

David Whear commented:

“We are delighted to assist Jelf on this deal. This transaction shows the continued consolidation in the insurance broking sector (as well as the insurance company segment) as companies seek talent, additional scale in quality businesses, as well as diversification.”