JLT Re, the reinsurance broking arm of JLT Group, has reinforced its connection with clients in the Latin America region with the launch of JLT Re Iberia through the acquisition of JLT March Re.
Reinsurance broker JLT Re has further invested in its European platform with the launch of JLT Re Iberia.
Based in Madrid, Spain, the new unit will provide local expertise to the broker’s clients and establish a link between its colleagues and clients in Latin America in an ever increasing global reinsurance sector.
The broker states that the acquisition builds on its existing partnership with Banca March on insurance brokerage operations.
JLT Re’s Chief Executive Officer (CEO) of UK & Europe, Keith Harrison, commented: “We are delighted to launch JLT Re Iberia, as we continue to invest in our European platform and deliver results for our clients across JLT Re.
“I am looking forward to the success of JLT Re Iberia. Our team in Madrid has an excellent reputation in the market and our clients will benefit as a result.”
María Díaz-Lladó, CEO of JLT Re Iberia, added: “I am thrilled to lead our team in Spain, and know that JLT Re Iberia will bring the best in local and global reinsurance expertise to our clients.”
The acquisition was been approved by the Directorate General for Insurance and Pension Funds on October 3rd, 2018.