Jardine Lloyd Thompson Group launches JLT Towers Re - a new force in the international reinsurance market
06 November 2013
London: Jardine Lloyd Thompson Group plc (“JLT”), one of the world’s largest suppliers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, today announces the launch of JLT Towers Re, a new force in the international reinsurance market.
This launch follows the receipt of the regulatory approvals required to complete JLT’s acquisition of Towers Watson’s reinsurance broking business which was announced on 20 September 2013.
JLT Towers Re combines Towers Watson’s established North American and London Market reinsurance broking businesses with JLT Re’s international reinsurance operations, dynamic brand and strong London Market operation, creating a business that will provide clients with enhanced scale, capability and market presence.
Alastair Speare-Cole, CEO of JLT Towers Re, said: “I am delighted to welcome the Towers Watson team and their clients to JLT Towers Re. The culture of the two companies has been built around understanding client needs and meeting these needs with insight, deep analytical skills and effective execution. Today marks the creation of a formidable new force that will restore client choice to the reinsurance market, retain and attract the very best talent and win market share.”
Ross Howard, Executive Chairman of JLT Towers Re, said: “The response from clients and insurance markets to the news of this transaction has been very positive. JLT is committed to investing in the business to enhance JLT Towers Re’s client proposition and drive growth, as it has done successfully across the rest of the JLT Group in recent years. This provides an exciting future for our clients and our people.”
Head of Communications & Marketing, JLT Re