JLT Hires Kotlewski for Private Equity Risk-Management Teamby
Brad Kotlewski to be based in broker's New York office
Surge of M&A deals has boosted demand for risk insurance
Jardine Lloyd Thompson Group Plc, the London-based insurance broker, hired Brad Kotlewski to build a private equity practice in the U.S. amid a surge in global dealmaking.
Kotlewski joins from larger rival Aon Plc, where he managed relationships with private-equity firms and their portfolio companies, JLT said in a statement Thursday. He will be based in New York and report to Colin Daly, head of the financial-lines group, a spokeswoman for the company said.
The record level of mergers and acquisitions has increased demand for coverage that guards against the risk of costly surprises tied to deals, according to a report by Marsh & McLennan Cos., the world’s largest broker by market value. Also, buyout shops want to protect their executives in case they are sued in disputes tied to target companies. Commercial insurers including Allianz SE and American International Group Inc. have sought to expand in the industry.
Kotlewski “will be focusing on delivering the full gamut of financial insurance-based products to the private equity sector, and helping JLT build a team of unparalleled U.S. based experts in this arena,” the company said in the statement.
He has a bachelor’s degree from New York University and an MBA from Fordham University. Kotlewski previously worked at Marsh & McLennan and AIG. A spokeswoman for Aon declined to comment.