Jardine Lloyd Thompson (JLT), a UK-based insurance and re-insurance company, has forayed into Argentina, by establishing its new subsidiary JLT Re Argentina Corredores de Reaseguros, as part of its ongoing global expansion strategy.
Based in Buenos Aires, JLT Re Argentina will be managed by Matias Rosales who was previously acting as the general manager of Cooper Gay Argentina.
According to JLT, the newly formed business will work closely with its existing operations in Brazil, Chile, Peru and Colombia as well as the rest of the company’s international network.
The collaboration will enable the company to bring JLT’s distinctive specialty-led skills and innovative services to some of the largest and most exciting companies in Argentina.
Commenting on formation of the new business unit, JLT Re Argentina CEO Matias Rosales said, "The establishment of JLT Re Argentina will provide clients with a distinctive alternative, enhancing access to international markets, supported by JLT’s experience, scale and specialty skills."
The company is gradually expanding its international footprint either by acquisition, by opening new offices or by floating new subsidiaries. Most recently, JLT opened its new shared service centre in Kuala Lumpur Malaysia, which will be its second shared service centre in the Asia pacific region.
The company believes that the new shared service centre will offer support to JLT’s 12 Asian markets, and will develop gradually.
In January 2014, JLT acquired 75% stake in SCK, a Rio de Janeiro based employee benefits and insurance broking operation, to positions its operations well for future growth in the region.
JLT manages offices in 39 territories with some 9000 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
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Image: JLT expands presence in Latin America. Photo: courtesy of Jardine Lloyd Thompson Group plc.