JLT Independent Appoints Sanjay Radhakrishnan as CEO

JLT Independent, a joint venture between Jardine Lloyd Thompson Group plc (JLT), one of the world’s leading providers of insurance, reinsurance and employee benefits related advisory, brokerage and associated services and the Sunidhi Group, one of India’s leading financial services provider specialising in broking solutions in over 100 locations spread across India, today announced that they have appointed Sanjay Radhakrishnan as Chief Executive Officer (CEO).

The launch of JLT Independent has enabled the JLT Group to enter into the insurance broking business in India. Its client proposition is built upon deep specialist knowledge, client advocacy, tailored advice and service excellence. JLT brings leading global capabilities with local knowledge and expertise. JLT Independent will provide cutting edge solutions to a diverse Indian clientele in products lines such as Energy, Employee Benefits, Liability, Credit & Political Risks, Crisis Management, Construction and Property. It will also offer innovative solutions for product lines such as Cyber Insurance.

JLT Independent will be led by Sanjay, who has worked within the insurance and financial services industry for almost two decades. Previously, he worked for Bharti AXA, ICICI Lombard and UBS AG. He has a deep knowledge and understanding of the Indian Insurance Market and his experience of working with international businesses will enable him to lead JLT Independent on its path to become a market leader in India.

Sanjay Radhakrishnan said, “I am excited about this new venture. JLT being a global brand in the insurance & reinsurance space with deep specialty expertise combined with Sunidhi group’s excellent relationship with many large & mid-sized corporates will create a strong partnership. JLT has entered India at a time when the outlook for the industry is very positive. The next decade is expected to see strong growth in the insurance broking market. JLT Independent will be well placed to handle the complex requirements of clients by providing tailor made, end to end solutions. We will be able to service customers with unique market knowledge and the highest levels of client service.”

Commenting on the appointment, Mr. K C Mittal, Director, JLT Independent said, “JLT has always placed its clients first and championed independent thinking. Sanjay is a perfect fit with his vast experience and vision. I am confident that the venture will grow rapidly under his leadership.”

JLT Independent is headquartered in Mumbai and is currently operating in Bangalore, Chennai, Delhi and Pune. With JLT’s global expertise in Specialty and Employee Benefits combined with Sunidhi Group’s local market knowledge and network, the firm will have a strong competitive advantage in the country’s developing Insurance Broking Sector.

About JLT Independent Insurance Brokers:

JLT Independent Insurance Brokers is a joint venture between Jardine Lloyd Thompson Group plc ("JLT"), one of the world's largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services and Independent Insurance Brokers Private Limited (IIB), the Mumbai and Chennai based insurance and reinsurance broking subsidiary of the Sunidhi Group, a leading Indian financial services Group. The joint venture between the two companies has helped combine innovative international expertise and local knowledge to provide value added insurance, reinsurance and associated services to the India market. JLT Independent is headquartered in Mumbai and is operating in Bangalore, Chennai, Delhi and Pune.

About Jardine Lloyd Thompson Group plc:

Jardine Lloyd Thompson is one of the world’s largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence. JLT is quoted on the London Stock Exchange and owns offices in 40 territories with some 9,500 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.

For more information: www.JLTGroup.com

About the Sunidhi Group:

Established in 1957, the Sunidhi Group is one of India’s leading financial services provider specialising in providing broking solutions to Equity, Wholesale Debt, Foreign Exchange, Commodities, Insurance and Reinsurance segments in addition to offering investment advisory and wealth management services including mutual fund and IPO distribution. Sunidhi is present in more than 100 locations servicing more than 45,000 clients and over 150 institutions.

For more information: www.sunidhi.com

Enquiries:

Roopa Kochhar

Roopa_Kochhar@jltgroup.com

Swagata Gupta

M +91 9820088951

T +91 22 67574444 Ext 268

Email swagata.gupat@adfactorspr.com

Hita Luhar

M +91 9930600754

T +91 22 67574444 Ext 305

Email hita.luhar@adfactorspr.com