NU Online News Service, April 24, 6:34 p.m. EDT
Jardine Lloyd Thompson Group plc has been granted a license to operate in South Africa by the nation's Financial Services Board.
JLT will act as a fully independent operator. The firm will offer insurance and reinsurance to buyers in the domestic market, and will provide enhanced access to international markets.
The group is opening its first independent office in Woodmead, Johannesburg, South Africa.
“We are delighted to have been awarded a license by the FSB as we see South Africa as an increasingly important market for us, as well as being a key hub for our international development, in a region which represents a significant and exciting opportunity,” says Mark Drummond Brady, JLT Group's International Chairman for Risk & Insurance and Chairman of JLT South Africa in a statement.
JLT says it announced its intention to establish an independent business in South Africa in January this year.
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