JLT Re and March JLT form Joint Venture to build on Reinsurance opportunities in Spain
30 September 2014
London: JLT Re is pleased to announce it has entered a new reinsurance joint venture agreement with March JLT to create 'JLT March Re'.
Ross Howard, Chairman, JLT Re, said "Following a review of our strategy in Europe this joint venture with March JLT allows us to continue to build on and grow our relationships in the region whilst capitalizing on the reputation of March JLT. The agreement will significantly strengthen the services and product offerings which will be supported with a high level of technical and reinsurance broking skills from London for the benefit of existing and prospective clients".
Carlos Navarro, CEO, March JLT said "This joint venture is an opportunity for March JLT to reinforce the services offered to our existing and future clients. Combining the reinsurance expertise of JLT Re and our knowledge of the market will help us to maintain our leadership as a provider of insurance solutions in key sectors like construction, energy, financial services or employment benefits, both local and internationally".
Richard Shinner who previously headed up the JLT Towers Re Spain operation will be relocating to London to be part of the Marine and Energy Wholesale practice which will put JLT Re in an ideal position to better exploit cross-border opportunities.
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Notes to Editors
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About March JLT
MARCH JLT is the mainly Spanish capital insurance broker owned by Grupo MARCH (75%) and Jardine Lloyd Thompson (25%). Founded in 1939, the company provides brokerage services to big and medium companies in strategic sectors such as financial services, tourism, distribution, civil construction, naval and employment benefits, along with public service, both in Spain and internationally.
With more than 100 employees in Spain, MARCH JLT is present in eight provinces and, through Jardine Lloyd Thompson network, offer its services to companies based in 130 countries.
About JLT Re
With over 700 professionals in 30 locations across 16 countries, JLT Re has established North American and London Market reinsurance broking businesses combined with international reinsurance operations and a dynamic brand, creating a business that provides clients with enhanced scale, capability and market presence.
JLT Re is part of the Jardine Lloyd Thompson Group plc one of the world’s largest suppliers of insurance, reinsurance and employee benefits related advice, brokerage and associated services.
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 41 territories with some 9,500 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
Head of Communications & Marketing, JLT Re