JLT expands Latam operations through SCK acquisition in Brazil
30 January 2014
Jardine Lloyd Thompson Group plc ("JLT"), one of the world's largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, is today pleased to announce that JLT Brasil Holdings has acquired 75% of SCK, a Rio de Janeiro based employee benefits and insurance broking operation. SCK was established in 1994 and focuses in three main areas, employee benefits, property & casualty and affinity, with three offices across Brazil.
Commenting on the transaction, Nicolau Daudt, CEO, JLT Brasil Holdings, said, "This acquisition positions our operations well for future growth in the region. Employee benefits remains a major focus for our strategic plans in Brazil and combining our JLT business with SCK will create an even stronger platform in the market. In addition SCK's insurance broking operations will provide valuable relationships for our insurance operations and SCK's affinity business will mean we can significantly accelerate the development of our existing affinity business.
Sergio Clark, Owner of SCK, said: "This is a great opportunity for everyone at SCK to build on the success we have had over recent years and the good relationship we have had with JLT. Not only will it allow us to serve our existing clients even better, it will also enable us to capitalise on the growing opportunities in Brazil and the region where long-term growth prospects are supported by fundamental macro-economic trends. We are really excited about the opportunity to be part of JLT."
Mike Methley, CEO Latin America, JLT Group, said: "SCK is a business that our team in Brazil has known very well and there is an excellent commercial and cultural fit. We have long admired the ambitious team at SCK and are delighted that they see JLT as a long term home for their people and clients. JLT's brand, additional services and geographical reach should allow us to maximise this opportunity to the full. I am delighted to welcome Sergio Clark and the SCK team to JLT."
-- ENDS --
Group Corporate Communications
Tel: (+44) 7920 586 032
Notes to Editors
About Jardine Lloyd Thompson Group plc
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 owns offices in 39 territories with some 9000 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
Head of Group Investor Relations