UK broker Jardine Lloyds Thompson Group has entered into an agreement to establish a joint venture company with Arab Commercial Enterprises in Saudi Arabia, which will see the London-based broker significantly expand its distribution network in the Middle Eastern country.
Jardine Lloyds Thompson Group’s (JLT) international chairman, Mark Drummond-Brady, commented: JLT could not have wished for a better partner for developing our distribution into Saudi Arabia and to work with to expand and consolidate our JLT Network throughout this dynamic region. Where we have other important relationships, we see our new partnership as adding strength to those relationships and enhancing our ability to provide solutions for our regional and global clients.
The president and CEO of Arab Commercial Enterprises (ACE), Abdulaziz Abussuud, added: ACE is entering a new and exciting phase by being associated with a renowned international insurance broker such as JLT. The complementary skills of the partners provide synergy for sustained growth. ACE regards this alliance as an important milestone in its long history and well-established presence in the region, positioning it to provide enhanced quality services and cutting edge products to its existing and future clients.