 "JLT Independent acquires Vantage Insurance Brokers")
JLT Independent Insurance Brokers on Thursday announced that it has completed the acquisition of Vantage Insurance Brokers.
Post this, Arvind Laddha (founder of Vantage) will take over as Deputy CEO of JLT Independent subject to regulatory approvals.
Sanjay Radhakrishnan, CEO of JLT Independent said that the addition of Vantage's employee benefits insurance brokerage portfolio will open up a host of new services for their clients in India.
Further, JLT Group also has hiked its investment stake in JLT Independent from 26 per cent to 49 per cent. JLT Independent is a joint-venture between Sunidhi Group of India and Jardine Lloyd Thompson (JLT) Group.
Laddha said that there is a strong strategic fit between the two businesses that will drive innovation in the marketplace.
Vantage was founded in 2004 as a specialist broker in employee benefits. They manage Rs 400 crore of employee benefits premium and have about 600 clients.