Jardine Lloyd Thompson Hong Kong chief executive to retire

The chief executive of British insurance firm Jardine Lloyd Thompson’s Hong Kong business will step down this year.

The company, which is headquartered in London, confirmed today that Kurt Schreiber will retire in July.

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Schreiber took on the chief executive role in Hong Kong at the beginning of 2018, after spending 12 years at Willis Towers Watson where he was managing director of corporate risk and broking.

“Kurt Schreiber is retiring in July of this year as planned,” the firm said in a statement.

“He has been a valued and committed member of our leadership team in Hong Kong. We wish him all the best.”

Schreiber’s departure comes after the insurance broker was bought by US firm Marsh & McLennan in a £4.3bn deal in September last year.

President and chief executive of March Dan Glaser said the deal "creates a compelling value proposition for our clients, our colleagues and our shareholders."

Read more: Marsh & McLennan buys insurer Jardine Lloyd Thompson for £4.3bn

Panmure Gordon analyst Barrie Cornes said: "We view the offer as fabulous for JLT shareholders.

"It's recent moves into the US has potentially been the trigger for Marsh to make the offer but irrespective of the reason this is a great price."