JLT in Saudi Joint Venture

Arab Commercial Enterprises (“ACE”) and Jardine Lloyd Thompson jointly announced that they have agreed to establish a joint-venture company in Saudi Arabia to support an exclusive trading agreement for the Kingdom and “to underline their commitment to seek to align their interests, wherever possible, throughout the Arab world.”

JLT’s International Chairman, Mark Drummond-Brady called “ACE” an ideal partner, who would help JLT “expand and consolidate our JLT Network™ throughout this dynamic region.”

Abdulaziz Abussuud, President and CEO of “ACE” noted that the Company was “entering a new and exciting phase by being associated with a renowned international insurance broker such as JLT.” He stressed the “”complementary skills of the partners,” noting that they would hopefully provide “synergy for sustained growth.”

Source: Jardine Lloyd Thompson