By Patience Saghana
Jardine Lloyd Thompson Group (JLT) has announced the forthcoming change of name of Jardine Lloyd Thompson Limited (JLTL) to JLT Specialty Limited.
Jonathan Palmer_Brown will become chairman with effect from 1 October 2010, subject to Financial Services Authority approval. Martin Hiller, who has led the transformation of the business over the last five years as CEO of JLTL, will continue as CEO of JLT Specialty.
In a statement the company said: “This change of name to JLT Specialty underlines the highly specialised services provided to clients and the depth of expertise and experience available to each individual client.
“JLT’s rapidly emerging Aerospace capabilities will form part of JLT Specialty, transferring from JLT Reinsurance Brokers Limited.
At the same time, a number of JLTL wholesale activities previously handled within the Energy Division will transfer to Lloyd & Partners Limited. This will consolidate our leading position in various disciplines and brings further clarity and focus for our clients and intermediaries.”
Subject to FSA approval, it is anticipated that the change of name and any transfers of business will be effective 1 January 2011.
Dominic Burke, CEO Jardine Lloyd Thompson Group commented: “This is a very important further development of our specialty capabilities and will help demonstrate our scale and ability to provide solutions to the complex demands of the world’s leading companies in our chosen areas of specialism.
I am delighted that Jonathan is to become chairman; he has many years’ experience at the highest levels within the insurance industry. Martin and Jonathan will form a formidable partnership as JLT Specialty continues to grow and build existing specialties and expand into new industry segments.”
Jonathan Palmer_Brown said: “Since joining JLT earlier this year, it has become clear to me that there is a very dynamic and experienced team operating in a much more focused and flexible environment than many of our major competitors. Our clients and colleagues recognise JLT’s ability to take important decisions professionally and quickly, which is most refreshing.
There is tremendous opportunity for this organisation to continue growing, particularly as the environment is suitable for attracting top quality staff and we are well supported by our strong shareholder base.”