Jardine Lloyd Thompson

Jardine Lloyd Thompson Group
Public limited company
Traded as LSE: JLT
Industry Insurance broker
Founded 1997
Headquarters London, England
Area served
 Worldwide
Key people
 Geoffrey Howe, Chairman
Dominic Burke, CEO
Services Insurance Brokerage
Employee Benefits
Risk Management
Revenue £1,261.3 million (2016)[1]
£155.6 million (2016)[1]
£90.9 million (2016)[1]
Number of employees
 10,499 (2016)[1]
Website www.jltgroup.com

Jardine Lloyd Thompson Group plc, also known as JLT Group or simply JLT, is a British multinational corporation that has its headquarters in London, England. It provides insurance, reinsurance, employment benefits advice and brokerage services, and it is a constituent of the FTSE 250 Index.

History

The company was first established as a division of Jardine Matheson in 1972. In 1991, Jardine Insurance Brokers was first listed on the London Stock Exchange. In 1997, it merged with Lloyd Thompson Group to form Jardine Lloyd Thompson Group. In June 2007, it acquired Pavilion Insurance,[2] and in June 2008, it announced the acquisition of Harman Wicks and Swayne.[3]

In July 2009, the company launched a new brand which removed the names of the firm ("Jardine Lloyd Thompson"), leaving simply the acronym JLT and an evolution of the pyramid device.[4] In December 2009, the company acquired HSBC Actuaries and Consultants, a UK-based employee benefits and actuarial consultancy firm, for a purchase price of £27.25 million.[5] In January 2010, the company acquired the Iimia Wealth Management (IWM) division of Midas Capital for a cash consideration of £7.25 million[6] and in October 2010 the company acquired a majority interest in Orbital Corredores de Seguros, the 4th largest insurance broker in Chile via acquisition of a majority stake in its holding company Alta SA.[7]

In May 2012, the company acquired Towner Management Group’s Barbados business and operations. Towner’s US arm, Towner Management group US also entered into a joint venture with the JLT Group, resulting in Towner’s rebranding as JLT Towner.[8] Then in October 2012 the company acquired Alexander Forbes Consultants and Actuaries for a purchase price of £17 million.[9] In February 2013, the company acquired Insfield Insurance Brokers Sdn Bhd in Malaysia[10] and in May 2013 the company acquired PT GESA Assistance (GESA) and PT Global Asistensi Manajemen Indonesia (GAMI), two Indonesian healthcare management and third party administration service providers, combining them to form PT JLT GESA.[11]

St Botolph Building in London, the headquarters of Jardine Lloyd Thompson

Then in September 2013, the company bought Towers Watson’s reinsurance brokerage business[12] and in August 2014 it announced that JLT Specialty and Lloyd & Partners would merge and that there would be an expansion of the company's US capabilities.[13] In November 2016 it announced the disposal of Thistle, an underwriting arm.[14]

Operations

The company has operations organised as follows:[15]

− Advice and consultancy
− Captive management
− Pension and retirement services
− Health, risk and benefits
− Investment services
− Wealth Management

Ownership

Some 40% of the company is still owned by Jardine Matheson.[16]

References

  1. 1 2 3 4 "Annual Results 2016" (PDF). Jardine Lloyd Thompson Group. Retrieved 22 April 2017.
  2. ↑ "Tips of the Week". Investors Chronicle. 1 November 2007.
  3. ↑ "JLT acquires Harman Wicks & Swayne businesses". Insurance Daily. 17 June 2008.
  4. ↑ "JLT brand refresh and website launch". Base One. 25 August 2009. Archived from the original on 24 July 2012.
  5. ↑ "JLT acquires HSBC insurance brokers business". Insurance Age. December 2009. Retrieved 3 September 2012.
  6. ↑ "JLT completes acquisition of iimia Wealth Management". Money Marketing. January 2010. Retrieved 3 September 2012.
  7. ↑ "JLT acquires majority interest in Chilean brokerage". Property Casualty. January 2010. Retrieved 3 September 2012.
  8. ↑ "JLT buys Barbados Towner Management Group". Captive Review. May 2012. Archived from the original on 2 February 2014. Retrieved 3 September 2012.
  9. ↑ "JLT acquires Alexander Forbes’ employee benefits business". Health Insurance Daily. October 2012. Retrieved 3 September 2012.
  10. ↑ "JLT acquires Insfield Insurance Brokers Sdn Bhd". Insurance Journal. February 2013. Retrieved 3 September 2012.
  11. ↑ "JLT acquires in Indonesia". Insurance Insight. May 2013. Archived from the original on 1 September 2013. Retrieved 3 September 2012.
  12. ↑ "JLT buys Towers Watson’s reinsurance brokerage business". Insurance Age. 20 September 2013. Retrieved 22 June 2015.
  13. ↑ "JLT Specialty and Lloyd & Partners merge". Insurance Age. 29 August 2014. Retrieved 3 September 2012.
  14. ↑ "JLT sells majority stake of Thistle to PIB". Insurance Age. 14 November 2016. Retrieved 17 December 2016.
  15. ↑ "What we do". Jardine Lloyd Thompson. Retrieved 22 April 2017.
  16. ↑ "JLT investors react to Sassoon appointment". FT. 29 April 2014. Retrieved 22 April 2017.
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