Three European independent brokers Siaci Saint Honore (S2H), GrECo Group (GrECo) and Ecclesia Group have signed an exclusive trading agreement with Jardine Lloyd Thompson (JLT) to built the JLT International Network in Continental Europe and CIS countries.
According to JLT, the agreement encompasses compatible branding and mutual development of all insurance, reinsurance and employee benefits activities, including shared technology, for the benefit of clients across all industry sectors. These sectors include, but are not limited to, construction, energy, financial services, healthcare, communications technology, life sciences, transportation and aviation.
The exclusive trading agreement forms a standard for future development in other key territories in which JLT currently works with network members on a non-exclusive or limited-exclusivity basis.
JLT International Network is a combination of owned, partly owned and non-owned broking and employee benefit consultancy with operations in over 130 countries.
JLT has said that it will take a 20% stake in GrECo, subject to regulatory approval, a company in which Ecclesia already has a 13.3% shareholding. In addition, JLT continues to hold its longstanding 20% shareholding in S2H.
Dominic Burke, CEO of Jardine Lloyd Thompson Group, said: We see this as a very important and exciting development for JLT and the JLT International Network. This new collaboration between JLT, Siaci Saint Honore, Ecclesia and GrECo goes beyond just referring international business to each other. It means a commitment to working together to utilize our respective industry specialist skills to the benefit of our existing and prospective clients.”