Jardine Lloyd Thompson Group (JLT), an insurance, reinsurance and employee benefits related advice, brokerage and associated services provider, has purchased Eluleka Consulting, a South African employee benefits (EB) and healthcare broker and consultant.

Johannesburg-based Eluleka was set up in 2007, and has a workforce of approximately 40. The company offers healthcare advice and Employee Benefit services to corporates.

JLT Benefit Solutions CEO Rhys Edwards said that the acquisition will immediately position JLT as the one of the largest players in the South African healthcare market.

Further, it will offer the capabilities and market profile to execute strategy of building international reach and relevance in a region where there is growing demand for JLT’s specialist expertise.

"We see great opportunities to work with mid/large South African corporates as well as opportunity to use BenPal as a key differentiator in this market," Edwards added.

Adrian Parsons of Eluleka stated, "Not only will it allow us to serve our existing clients even better but it will also enable us to capitalise on the growing EB opportunities in a region whose long term growth prospects are supported by fundamental macro-economic trends."

In March 2011, London-based insurance broker JLT Group established JLT Holdings Japan to better respond to the risk management needs of Japanese companies expanding overseas.