JLT Independent Insurance Brokers (JIIB), a speciality broker and a Jardine Lloyd Thomson (JLT) associate company, aims to be among the top three insurance brokers in India in the next five years, its Chief Executive Officer Sanjay Radhakrishnan said.

Organic, inorganic routes “We will use both organic and inorganic methods to reach there (top three). Hopefully, we should break into the top 10 by revenues at about the same time next year,” Radhakrishnan told BusinessLine .

JIIB, which is a full disclosure insurance broker, started operations in December 2014. Within a span of nine months, JIIB has on-boarded over 200 large clients and is adding many more every month, Radhakrishnan said.

“You will, in the coming days, see us doing a lot of new things…fresh to the Indian market in terms of coverage, products, etc.

“We are already talking with insurance companies to develop products backed by reinsurance — mostly in the commercial space and some on the retail side as well. Focus areas are on aviation, oil and gas, and construction.”

The JLT Group has market-leading practices in oil and gas, construction, aviation, credit and political risk, and terrorism in several markets. Bidan Saha, Practice Head-India, Energy and Commercial Practices, said that he saw JIIB doing very well in the construction space.

Positive on construction “We are very bullish on India as it will, in the next few years, take up some large complicated construction projects. We see ourselves doing well in the construction space.

“There will be railway projects, tunnels and freight corridors coming up. We are the No. 1 construction (insurance) broker in London. We are bringing to India our global expertise to underwrite such projects,” Saha added.

Radhakrishnan also said that JIIB is in talks with several low-cost airlines in India to offer its broking solutions around aircraft insurance.

JIIB is also creating a team to provide insurance solutions in the sports and entertainment space.

srivats.kr@thehindu.co.in

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