JLT Re is the fourth-largest reinsurance broker in the world. It provides consultancy services, as well. It is a wholly owned subsidiary of the JLT Group (Jardine Lloyd Thompson Group) with 30 locations worldwide. It was formally established in January 2006 in the UK. Its line of expertise includes a) property, energy and engineering; b) aviation; c) casualty; d) terrorism and political violence; e) general and products liability; f) environmental; g) marine; h) mortgagee’s interest facility; i) specie and fine art facilities; and j) life, accident and health.

JLT Re would make several acquisitions, expanding its reach and expertise. In June 2008, for example, JLT Re acquired Harman Wicks & Swayne (HWS) Limited, also a premiere reinsurance broker.

In 2017 JLT Re would enter the Philippine market, appointing William Pang as managing director for the Philippines. The Philippine office reports to JLT Re Asia, based in Singapore. According to Stuart Beatty, JLT Re Asia Pacific CEO, “The Philippines is a natural progression for JLT Re’s regional expansion plans, given that it’s the fourth-largest economy among Asean members after Indonesia, Thailand and Malaysia.” Today, the JLT Philippines President and CEO is Raul Bantug Tan.

JLT Group

The Jardine Lloyd Thompson (JLT) Group is a public limited company (Plc.). It is a British multinational corporation with headquarters in London, England. JLT Group’s two main businesses are risk and insurance, and employee benefits.

It traces its origins to Jardine Insurance Brokers (JIB), founded in 1972, which was then a division of Jardine, Matheson & Co. JIB would be listed in the London Stock Exchange in 1991, with Jardine, Matheson & Co. retaining majority control. JIB would merge, in 1997, with Lloyd Thompson to form the JLT Group, and making JLT Group the fifth-largest insurance broker in the world. Jardine, Matheson Holdings Ltd. would retain a 30-percent shareholding in the merged business. In 2011 (up to the present), this would increase to a 40-percent shareholding. In July 2009 it removed the names “Jardine Lloyd Thompson” and decided to just use the acronym JLT.

Lloyd Thompson was founded in 1981 and listed on the London Stock Exchange in October 1987. From its origins as specialists in marine hull and energy, Lloyd Thompson grew rapidly in all classes of wholesale and reinsurance businesses, developing a strong presence in London.

In September 2013 JLT (Jardine Lloyd Thompson) Group acquired Towers Watson’s reinsurance broking business for $250 million in cash, to form JLT Towers Re. Towers Watson is an actuarial consultancy firm. In September 2014 JLT Towers Re dropped the name “Towers” and was rebranded back to simply JLT Re.

Jardine, Matheson Holdings

Jardine, Matheson & Co. was founded by William Jardine (1784-1843) and James Matheson (1796-1878), in 1832, in Canton (now Guangzhou), China. It is a highly diversified conglomerate with interests in retail, real estate, shipping and aviation, hotels and financial services and is headquartered in Hong Kong. It originally traded on tea, cotton and opium. It later diversified to shipping, railways and insurance.

It is now controlled by the Keswick family, descendants of William Jardine. Interestingly, Jardine installed the very first elevator in China in the city of Tianjin. Jardine and Matheson are both graduates of the University of Edinburgh in Scotland.



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article

Conflicts emerge as Trump trumps out ‘trumped-up’ charges

Next Article

NFA must step up price monitoring

Related Posts

Opinion - BusinessMirror
Read more

Let’s help preserve humanity’s lifeblood

The Earth is known as the “Blue Planet” because 71 percent of its surface is covered with water. The oceans hold about 96.5 percent of all Earth’s water. Of the waters occupying the planet’s surface, only 3 percent is considered freshwater. And most of this freshwater reserve is inaccessible to humans — locked up in polar ice caps or stored too far underneath the Earth’s surface to be extracted. Furthermore, much of the freshwater that is accessible has become highly polluted. This leaves us with roughly 0.4 percent of the Earth’s water that is usable and drinkable to be shared among seven billion people.

Column box-Sonny Angara 2
Read more

A big push for micro, small and medium enterprises

Earlier this week, we sponsored a measure that will institutionalize the Shared Service Facilities (SSF) Project of the Department of Trade and Industry (DTI). Through the SSFs micro, small and medium enterprise (MSME) qualified beneficiaries are provided with the appropriate machinery, equipment, and tools under a “shared” system that would address known gaps in the value chain, most notably the lack of adequate and appropriate facilities, which hinder them from elevating their products and services and enabling the creation of export-ready goods.

Read more

Women, economics, and economy

IN 1994, Ms. Universe Sushmita Sen gave her award-winning answer to the question of a woman’s true essence. Ms. Sen said, “Just being a woman is a gift of God that all of us must appreciate. The origin of a child is a mother, who is a woman.” Her reply implies that a woman’s reproductive role centers on being a biological bearer of infants—something that is expected and natural.