South Africa: JLT acquires risk consulting firm
Source: Middle East Insurance Review | Nov 2015
Jardine Lloyd Thompson (JLT) has agreed to acquire 100% of the shares of Eikos Risk Applications (ERA) from Eikos Holdings, part of the Eikos Group.
ERA provides specialist marine, transportation and logistics risk consulting and broking services within the cargo, liability and credit insurance space. They also handle a significant book of pleasure craft and small commercial vessels. The business consists of three core divisions in Freight, Cargo and Hull and employs 40 staff in offices in Durban, Cape Town and Johannesburg.
Mr Andrew Chislett, JLT Middle East and Africa’s regional Chief Executive, said: “ERA’s strategy and culture are a great fit with our own focus on delivering products and services tailored to the client’s needs, in contrast to a trend towards commoditisation in our sector. Their focus on excellent client service has attracted some of the leading marine insurance practitioners in the country. I’m particularly pleased that this sound business fit is matched by a good geographic fit, accelerating our strategy of building JLT’s presence in Durban.”