JLT Re, a subsidiary of Jardine Lloyd Thompson Group, has acquired the portfolio of Olsa Re in Peru, for an undisclosed sum.

Olsa Re provides reinsurance services to the customers of aviation and cargo sectors in Peru.

The reinsurance broker also offers services to the clients in Colombia, Ecuador and Costa Rica.

The acquisition expands JLT Re’s reinsurance operations in the country, which is specialized in providing services to the construction, mining, energy and other industry.

Under the deal, Olsa´s key aviation brokers Jose Espinosa and Clara Escobar have joined JLT Re Peru to continue to manage the aviation sector clients.

JLT Re Peru CEO Jose Miguel Gonzalez said: "The acquisition of Olsa Re´s portfolio provides a strong strategic fit for our clients and further strengthens the range of services we offer in Peru.

“Olsa Re’s proven aviation expertise will add even greater depth to our already leading client offer in the marketplace.”

In May this year, JLT Re launched new business unit, JLT Re Global Mortgage Solutions, in North America.

The new business will offer reinsurance structures to help government sponsored entities (GSEs), domestic mortgage insurers, mortgage lenders and house builders to manage their mortgage risk and core propositions.

Jardine Lloyd Thompson offers insurance, reinsurance and employee benefits related advice, brokerage and associated services to its customers.

The company has around 10,600 employees and offices in 40 territories. It offers risk management and employee benefit solutions in around 135 countries with the support of JLT International Network.

Image: St Botolph Building, London, headquarters of Jardine Lloyd Thompson. Photo: courtesy of Adhib.