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JLT Commences Insurance Broking Operations in India

JLT Independent to introduce specialty products in India

Dec 03, 2014   18:02 IST 
New Delhi, Delhi, India

JLT Independent Insurance Brokers Pvt Ltd (JLT Independent), an insurance, reinsurance and employee benefits broker, announced the launch of its operations today. JLT Independent marks Jardine Lloyd Thompson Group plc (JLT)’s direct presence in India through a joint venture with Sunidhi Group, a leading Indian financial services group with over 100 branches across India. JLT is one of world’s largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT is part of the Jardine Matheson group of companies, a $61 billion conglomerate, which has been in the insurance broking business since 1832.

 

In India, JLT Independent will offer specialty  expertise and provide cutting edge solutions for  sectors such as energy & marine, employee benefits, liability, credit & political risks, crisis management, aviation, re-insurance, construction and property. The venture has the capability and experience in delivering complex risk management solutions embedded with insurance structuring and placement. 

 

Speaking on the occasion, Balamurugan Viswanathan, JLT Group COO, said, “Our objective is to become a long-term, strategic partner. To understand, structure and distribute our client’s risks into the insurance market”.

 

Commenting on the Joint Venture, Mr. Jayesh Parekh, CMD, Sunidhi Group, said, "Sunidhi Group's corporate relationships and JLT's expertise compliment each other very well and will go a long way making this venture a huge success."

 

The specialist teams of JLT Independent will focus on those sectors where JLT has a distinctive level of knowledge and expertise to act as an intermediary with insurers and reinsurers and providing related risk management, analytical, advisory and other services. JLT Independent will introduce a scientific approach with proprietary tools and softwares for crisis management, reinsurance consultancy and natural catastrophe modelling that enhances its speciality offering.

 

Sanjay Radhakrishnan, Chief Executive Officer, JLT Independent said, “Our aim is to add value to our clients’ operations through maximising efficiency and continually evolving new and innovative solutions to manage risk. We believe currently markets lack this speciality approach and JLT Independent will help to bridge this gap.

 

JLT Independent is headquartered in Mumbai and is currently operating in Bangalore, Chennai, Delhi and Pune.

 

About JLT Independent Insurance Brokers

JLT Independent Insurance Brokers is a joint venture between Jardine Lloyd Thompson Group plc ("JLT"), one of the world's largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services and Independent Insurance Brokers Private Limited (IIB), the Mumbai and Chennai based insurance and reinsurance broking subsidiary of the Sunidhi Group, a leading Indian financial services Group. The joint venture between the two companies has helped combine innovative international expertise and local knowledge to provide value added insurance, reinsurance and associated services to the India market. JLT Independent is headquartered in Mumbai and is operating in Bangalore, Chennai, Delhi and Pune.

 

About Jardine Lloyd Thompson Group plc

Jardine Lloyd Thompson is one of the world’s largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT is part of the Jardine Matheson group of companies, a $61 billion company, which has been in the insurance broking business since 1832. 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 40 territories with some 9,500 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries. For more information: www.JLTGroup.com

 

About the Sunidhi Group

Established in 1957, the Sunidhi Group is one of India’s leading financial services provider specialising in providing broking solutions to Equity, Wholesale Debt, Foreign Exchange, Commodities, Insurance and Reinsurance segments in addition to offering investment advisory and wealth management services including mutual fund and IPO distribution. Sunidhi is present in more than 100 locations servicing more than 45,000 clients and over 150 institutions. For more information: www.sunidhi.com


 
 
Mr. Balamurugan Viswanathan, Group COO, JLT Group
Mr. Balamurugan Viswanathan, Group COO, JLT Group
Mr. Sanjay Radhakrishnan, CEO, JLT Independent
Mr. Sanjay Radhakrishnan, CEO, JLT Independent
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