Jardine Lloyd Thompson buys 26% stake of Indian broker IIB

Jardine Lloyd Thompson Group P.L.C. has acquired 26% of Indian insurance and reinsurance brokerage Independent Insurance Brokers Private Ltd., JLT announced Wednesday.

Terms were not disclosed.

IIB, which is based in Mumbai and has its principal office in Chennai, is a subsidiary of the Sunidhi Group, a financial services company with operations in 100 locations across India, London-based JLT said.

“The investment in IIB signals JLT’s intention to collaborate with the Sunidhi Group to build a leading specialty insurance and reinsurance broker and employee benefits advisor in India,” JLT said in a statement.

On completion of the deal, IIB will be rebranded as JLT Independent and the staff will report to Duncan Howorth, JLT’s CEO for Asia.