Broker Marsh has completed its acquisition of Jelf Group following approval by shareholders and regulatory authorities.
Marsh said that the Jelf purchase would enable it to expand its offering to individuals and small and medium-sized enterprises (SMEs).
The acquisition will also "strenghten its presence in the UK mid and large-sized corporate" market.
Previously COVER reported that Marsh acquired Jelf for £258m.
Jelf is one of the UK's largest independent insurance brokers and financial services consultancies. Through its 36 offices, Jelf provides advice to over 100,000 businesses and individuals on matters relating to insurance, healthcare, employee benefits and financial planning.
The combined operation will also have access to the online and telephone capabilities of SME Insurance Services, which was recently acquired by Marsh.
Mark Weil, Marsh's CEO for UK & Ireland, 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.
"Crucial to this is the cultural fit between the two firms. We share the same ethos of putting our clients and colleagues at the centre of everything we do. We want to build on Jelf as the cornerstone of what we offer to individual and small to medium size enterprises."
Alex Alway, group chief executive of Jelf, added: "I have been encouraged by the positive response we have received from clients and colleagues alike over the last few weeks.
"There is a strong belief that, as part of the Marsh family, we will be able to build on the reputation we have earned for developing long-lasting, trusted adviser relationships with our clients."
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