Gallagher has acquired JLT’s global aerospace broking business, including operations in Australia and New Zealand.

The purchase of the JLT aerospace retail and wholesale insurance broking division also includes assets in the UK, US, Canada and 10 other countries spanning Europe, Latin America and Asia.

“The addition of JLT’s global aerospace broking operations will firmly position Gallagher as a leading broker in the extremely attractive and dynamic aviation and aerospace sector,” President and CEO Patrick Gallagher said.

“The business portfolio is a highly complementary geographic fit with Gallagher’s existing footprint and will provide significant growth opportunities for our international business.”

The JLT business includes airlines, aerospace infrastructure, general aviation and space and satellite cover. The broker has airline clients in more than 90 countries and says it has handled some of the sector’s largest and most complex claims.

About 250 employees from JLT will join Gallagher as part of the agreement. The total includes around 100 employees in the London market who will become part of Gallagher’s existing aviation division.

Gallagher last year added independent aviation insurance and reinsurance broker Boston Marks to its growing London-based operations.

That deal also included a retail brokerage in Australia and New Zealand and wholesale operations in the UK and the US.

The Boston Marks portfolio ranged across regional airlines, corporate jets, aero-medical operators, tourism, flying training, aerial agriculture, firefighting, mustering, private aircraft, drones and maintenance and ground handling liability.

The JLT acquisition is scheduled to close in the northern spring, when Marsh & McLennan’s purchase of JLT is also due to be finalised, subject to European Commission approval.