JLT establishes joint venture in Saudi Arabia

RIYADH, Saudi Arabia— Jardine Lloyd Thompson Group P.L.C. is pairing with a broker in Saudi Arabia to expand its distribution network in the Middle East.

The London-based broker is establishing a joint venture with Arab Commercial Enterprises Ltd. in Riyadh. The new venture will allow JLT to expand and develop its network throughout the region, said Mark Drummond-Brady, JLT's international chairman, in a statement.

The arrangement is an important milestone in Arab Commercial's history and leaves it well-positioned to enhance services to its clients, Abdulaziz Abussuud, president and chief executive officer of Arab Commercial, noted in the statement.