You can put down your torches – a spat between broking giant Jardine Lloyd Thompson (JLT) and Hyperion Insurance Group (the name behind Howden, DUAL and RKH Specialty) is finally over after the two firms reached a confidential settlement over employee poaching.
The legal battle began in 2019, when JLT saw 47 of its employees join rival Hyperion only months after the broker was bought by Marsh & McLennan. In turn, JLT filed a lawsuit accusing Hyperion of co-ordinating the resignation of these employees to gain clients or force the selling off of certain JLT Specialty divisions.
Now, JLT and Hyperion have announced that as part of the settlement, the firms have agreed that the employees in question “will continue to be bound by their obligations to JLT,” according to a press release. This includes their notice periods and post-termination restrictive covenants.
