JLT Forms U.S. Unit for Emerging Market Risks

The Houston office of international insurance broker Jardine Lloyd Thompson LLC announced that it has created a new division to meet the needs of U.S.-domiciled clients engaged in business in the world’s emerging markets. JLT LLC has appointed John M. Minor as president of the new “Emerging Markets” division.

“The new division complements JLT’s long-established dominant position in providing innovative insurance solutions to global business with exposures to emerging market risk, through the London Insurance Market,” said the bulletin.

Chief Executive Ken Carter commented: “Our US-based multinational clients face many challenges arising from political and economic uncertainties around the world. We are delighted to be able to provide our clients this critical resource.”

Executive VP Jim Pierce observed: “John is one of the leading experts in the business. His knowledge and experience will be a tremendous asset for us as we continue to serve the needs of our global clients.”

Mark Drummond Brady, director of JLT Risk Solutions Ltd., responsible for the London based Financial Risks Division, added: “JLT has long been a leading global player in Emerging Market political and country-economic risk and the establishment of a strong capability in The United States is a critical development in the evolution of our Global Practice, adding to the strength of our specialist teams in London, Calgary, Stockholm, Singapore, Hong Kong and Tokyo.”

Minor joins JLT from a leading insurance broker, where he served as head of its political risk practice for many years. “He has over a decade of experience providing advice to multi-national corporations managing political and economic instability in emerging markets,” said the announcement. “His articles have appeared in a number of trade journals and publications including Risk Management, International Risk Management, Risk Management Letter and Global Risk Assessments.”

JLT noted that “Minor has assembled a group of specialists with extensive experience in political and financial risk management including:
— Michel Leonard, Chief Economist and Head of Consulting for the Emerging Markets division, joins JLT with more than a decade of involvement in policy, research and risk management. His expertise bridges economics, organizational change, and financial risk and focuses on enhancing the ability of corporations and financial institutions to withstand political, economic, and financial crises. Prior to joining JLT, Dr. Leonard was head of political risk consulting for a leading insurance broker.
— Conal Duffy, Vice President of the Emerging Markets division, joins JLT with fifteen years of experience working with emerging markets. During this time, Mr. Duffy worked with a number of US Government agencies, including the Overseas Private Investment Corporation where he was senior underwriter specializing in infrastructure projects and Africa and the Middle East. Prior to joining JLT, Mr. Duffy was Vice President of another global insurance broker.