JLT Independent Insurance Brokers, a joint venture between Jardine Lloyd Thompson Group and Sunidhi Group, an Indian financial services group, has acquired Vantage Insurance Brokers & Risk Advisor’s employee benefits insurance brokerage portfolio in India.
Vantage operates one of India’s largest employee benefits insurance portfolios with services that include insurance broking, health risk advisory and benefits consulting.
The acquisition follows JLT Group receiving regulatory approval to increase its investment stake in JLT Independent from 26 percent to 49 percent.
JLT is known for its best-in-class insurance products and services, while Vantage has built a credible and strong brand specializing in employee benefit services.
There is a strong strategic fit between the two businesses that will drive innovation in the marketplace, said Laddha.
Sanjay Radhakrishnan, CEO of JLT Independent, said: The increase in JLT Group’s stake comes at a time when the Indian Insurance market is growing rapidly.
The addition of Vantage’s leading employee benefits insurance brokerage portfolio will open up a host of new services for our clients in India.
JLT Independent has a growing reputation as a Specialty powerhouse in India and the combination of our expertise and Vantage’s is a compelling proposition.
JLT Independent, Asia-Pacific, JLT Group, Vantage Insurance Brokers and Risk Advisor, M&A, Insurance, Risk, Arvind Laddha, Sanjay Radhakrishnan