JLT Independent Insurance Brokers Acquires Vantage Insurance Brokers’ Employee Benefits Team and Client Portfolio in India

JLT Group increases its stake to 49% in JLT Independent

JLT Independent adds new, market-leading capabilities for clients with Vantage portfolio

by Shrutee K/DNS

Mumbai, October 13, 2016: JLT Independent Insurance Brokers Pvt. Ltd today announced that it has acquired Vantage Insurance Brokers & Risk Advisor Pvt. Ltd’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.

JLT Independent is the Specialty joint venture between Jardine Lloyd Thompson Group plc (JLT) and Sunidhi Group, a leading Indian financial services group with over 80 branches across India.

The acquisition further strengthens JLT Independent’s position as one of India’s leading Specialty risk and insurance brokers, with the addition of Vantage’s significant employee benefits industry expertise and established client portfolio. Vantage is among one of India’s largest employee benefits insurance brokers supporting over a million people, with 175 employees, servicing more than 600 leading corporates across sectors that include: BFSI, IT/ITes, Construction, Energy and Media and Advertising. The acquisition follows JLT Group receiving regulatory approval to increase its investment stake in JLT Independent from 26% to 49%.

Mr. Arvind Laddha, founder of Vantage has been appointed Deputy CEO and, subject to regulatory

approval, a Board member of JLT Independent.

Mr. 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.”

Mr. Arvind Laddha, Deputy CEO JLT Independent and founder of Vantage, said: “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.”

About JLT Independent

JLT Independent is a specialist broker and is a joint venture between Jardine Lloyd Thompson Group plc ("JLT") and Sunidhi Group of India. JLT Independent provides insurance, reinsurance and advisory services to a diverse Indian clientele in product lines like Energy, Employee Benefits,

Liability, Credit & Political risks, Crisis Management, Cyber Insurance, Construction and Property.

JLT Independent is headquartered in Mumbai and is currently operating in Bangalore, Chennai,

Delhi, Pune and Hyderabad.

About JLT Group

Jardine Lloyd Thompson is one of the world’s largest providers of insurance, reinsurance and

employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.

JLT is quoted on the London Stock Exchange and has offices in 40 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.

About Sunidhi Group

Established in 1957, the Sunidhi Group is one of India’s leading financial services providers specializing in providing broking solutions for Equity, Wholesale Debt, Foreign Exchange, Commodities, Insurance and Reinsurance segments in addition to offering investment advisory and wealth management services including mutual fund and IPO distribution. Sunidhi is present in more than 80 locations servicing more than 45,000 clients and over 150 institutions.