JLT Specialty launches CPS practice
JLT Specialty Insurance Services, a US subsidiary of Jardine Lloyd Thompson Group, has launched a credit, political and security risk practice (CPS).
Matthew Strong has been appointed as head of the practice, based in Chicago. Prior to joining JLT Specialty, Strong was responsible for the global business development for CPS working with JLT's CPS clients and international network of specialists in ten financial centers.
In addition, Corina Monaghan and Reid Sawyer have been appointed as senior vice presidents of the division.
Monaghan joins from Willis US, where she was in charge of the political risk practice, responsible for consulting and recommending political risk insurance solutions for US companies investing, lending, and trading in emerging markets.
Sawyer joins JLT Specialty after retiring from the US Army after more than 23 years of service.
Nick Robson, chief executive officer of CPS risk at JLT Group, said: “With a drop in economic growth in emerging markets comes increased security risk to assets and personnel.
“With considerable pressure on both emerging and developed economies due to a number of factors including the return of geopolitics, the end of the commodity supercycle, the continual threat of terrorism and unrest and economic uncertainty coupled with the underlying strength of corporate America means that credit, political and security risk concerns are of increasing relevance and importance to US corporations and financial institutions.”
Pat Donnelly, president and deputy CEO at JLT Specialty, added: “During a time of great vulnerability, we are pleased to offer another highly specialised area of expertise to our current and future clients who will undoubtedly find value in the skill sets each of our new team members brings to the JLT Specialty team.
“We’re thrilled to be announcing the formation of a new CPS practice and to be welcoming three team members to the JLT Specialty family.”
