Marsh and Construction Risk Partners LLC entered into an agreement whereby the latter's management will buy back the company's stock from JLT Specialty USA, a unit of Jardine Lloyd Thompson Group Ltd.
Financial terms of the deal were not announced.
Effective Sept. 5, Construction Risk Partners is operating as an independent construction risk and surety specialty insurance broker. It will maintain its headquarters in Branchburg, N.J.
Jardine Lloyd Thompson acquired a 50.1% stake in Construction Risk Partners in January 2017.
