JLT to Enter South African Insurance Market

April 27 - Jardine Lloyd Thompson Group (JLT) has announced that it will be opening its first independent office in Woodmead, Johannesburg.

The group was granted an operator's license by the Financial Services Board, following an application for the license and an announcement in January that it intended establishing a business in South Africa.

The International Chairman for Risk and Insurance and Chairman of JLT South Africa, Mark Drummond Brady, expressed his excitement in the new venture.

"We are delighted to have been awarded a license by the FSB as we see South Africa as an increasingly important market for us, as well as being a key hub for our international development, in a region which represents a significant and exciting opportunity," said Drummond Brady.

JLT South Africa will offer insurance and reinsurance to buyers in the domestic market.

South Africans will also be provided with enhanced access to international markets.

JLT is a group of risk specialists and employee benefit consultants.

South Africans will be able to enjoy access to insurance products that specialise in construction, power, natural resources, financial risks, marine, telecommunications and life sciences, among others.

JLT was formed in 1997 following the merger of Jardine Insurance Brokers and Lloyd Thompson Group.

The merger combined Lloyd Thompson's specialist skills in the London market with Jardine's international network, which includes a powerful presence in the Asia Pacific region.