EXMAR has reached an agreement to sell insurance broker BELGIBO NV to Jardine Lloyd Thomson Group plc (JLT), provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services.

Based in Antwerp, BELGIBO is a Belgian specialist broker with a strong client first advisory approach and commercial strengths in Marine, Credit and Political risks, Aviation, Cargo, Employee Benefits, Logistics, Construction and Professional Services. BELGIBO and JLT have enjoyed a close trading relationship for more than twenty years, with BELGIBO being a long standing member of the JLT International Network.

BELGIBO has built up a strong reputation within the insurance market, and this partnership with JLT will further grow and strengthen its services with access to JLT’s global capabilities.

This transaction will reinforce the cash position of EXMAR. The capital gain realised by EXMAR NV will be recorded in the third quarter 2017.

Tags: Exmar