JLT grows Asian reach with acquisition in Taiwan
Jardine Lloyd Thompson (JLT) has strengthened its presence in Taiwan with the acquisition of ForVision Risk Services, a broker providing insurance, reinsurance and risk management services for companies with local and international operations. The business will be combined with JLT’s existing operations in Taiwan.
The acquisition broadens JLT’s offering in the Taiwanese market, specifically in the marine, hi-technology, and corporate sectors.
Sunny Chen, CEO of ForVision, has been appointed CEO of the combined entity while current managing director of JLT Taiwan, Muhshi Harn, assumes the position of chairman.
“This merger is another step in JLT’s strategy to build out its specialty capabilities and grow its international reach and relevance,” said Duncan Howorth, CEO of JLT Asia. “Combined with JLT Taiwan’s existing number one position in the aviation market, this merger positions JLT for broad-based growth in this market going forward. JLT and ForVision Risk Services Limited have a shared focus on culture and a client-first approach. We are excited about the opportunities ahead for us in this market.”
Sunny Chen, CEO of JLT Taiwan, added: “The Taiwanese insurance market is growing in sophistication and knowledge. Companies are increasingly aware of the value of insurance broking. I look forward to working with Muhshi Harn and the combined team in growing JLT Taiwan in this exciting period of the market’s growth.”
The merger continues the fulfilment of JLT’s strategy of building out its specialty capabilities and expanding its international reach. Earlier this year, the company acquired Insfield Insurance Brokers Sdn Bhd, a leading insurance broker in Malaysia with strong presence in the marine, energy, media, manufacturing, financial lines, and employee benefits sectors. Subsequently JLT acquired PT GESA Assistance (GESA) and PT Global Asistensi Manajemen Indonesia (GAMI), two highly regarded and successful employee benefits and third party administration service providers in Indonesia.
