JLT Re, the reinsurance arm of London-based Jardine Lloyd Thompson Group P.L.C. has entered into a joint venture with March JLT Correduria de Seguros S.A., its Spanish network partner, to form JLT March Re, it announced Wednesday.
Ross Howard, executive chairman of JLT Re, said the joint venture would allow JLT Re to “strengthen the services and product offerings which will be supported with a high level of technical and reinsurance broking skills from London for the benefit of existing and prospective clients.”
Richard Shinner, who previously headed JLT Re's operations in Spain, will relocate to London to be part of the company's marine and energy wholesale practice, JLT said in a statement.
March JLT is headed by CEO Carlos Navarro.
JLT has a 25% stake in March JLT, which is based in Madrid.
JLT Towers Re, the reinsurance arm of Jardine Lloyd Thompson Group P.L.C., has named insurance industry veteran David Flandro as global head of strategic advisory.