Jardine Lloyd Thompson Group plc (JLT), one of the world's largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, is today pleased to announce that it has acquired Eluleka Consulting (PYT) Ltd (Eluleka), a fast growing South African Employee Benefits (EB) and Healthcare broker and consultant.
Eluleka is based in Johannesburg and employs nearly 40 people with a focus on providing healthcare advice and Employee Benefit services to corporates. It has delivered strong growth over the last three years and was founded by its Managing Director, Tyrone Farinha in 2007.
Commenting on the transaction, Rhys Edwards, CEO, JLT Benefit Solutions SA, said, “This acquisition will immediately position JLT as the one of the largest players in the South African healthcare market, and provide us with the capabilities and market profile to execute our strategy of building our international reach and relevance in a region where there is growing demand for JLT’s specialist expertise. We see great opportunities to work with mid/large South African corporates as well as opportunity to use BenPal as a key differentiator in this market.”
Adrian Parsons, Eluleka, said: “This is a great opportunity for everyone at Eluleka to build on the success we have had over recent years. Not only will it allow us to serve our existing clients even better but it will also enable us to capitalise on the growing EB opportunities in a region whose long term growth prospects are supported by fundamental macro-economic trends. We are really excited about the opportunity to be part of JLT.”
Duncan Howorth, International Chairman, Employee Benefits, JLT, said: “We have a growing operation in South Africa, built on our long standing relationships in the region and reinforced by our offices in Johannesburg and Cape Town. We have been keen to expand our EB capability in South Africa in line with our international growth strategy for EB, with a particular focus on healthcare consulting. This investment therefore provides JLT with the opportunity to accelerate our momentum in these areas. There is an excellent cultural and commercial alignment between our businesses and we are delighted to welcome the Eluleka team to JLT.”
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