JLT Independent Insurance Brokers is eyeing to double its business in the country to over Rs 360 crore this fiscal. The company, which entered the country in December 2014, today announced the acquisition of Vantage Insurance Brokers & Risk Advisors, which specialises in employee benefits.
Post this, Vantage founder Arvind Laddha will take over as deputy chief executive of JLT Independent. The company also said it has increased its stake in the JV with Sunidhi Group from 26 per cent to 49 per cent. "JLT is looking at doubling our business from Rs 180 crore last fiscal to over Rs 360 crore in the current fiscal and we have already dealt the premium collection to Rs 190 crore so far in the current fiscal," JLT Chief Executive Sanjay Radhakrishnan told reporters here. At present, it has six offices in the country at Mumbai, Delhi, Hyderabad, Chennai, Bengaluru and Pune. According to Radhakrishnan, JLT will now be looking at increasing its customer base in large corporates to 1,000 by the fiscal-end. Currently, JLT has 850 customers, which include 600 customers of Vantage.
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