19th February 2013, London: JLT Reinsurance (North America) Inc. (JLT Re N.A.)
is delighted to have been working with Weston Insurance Company, a new Floridian Insurer, to help depopulate* Citizens Property Insurance Company.

This project has taken over 18 months from initial conversations to launch, JLT Re N.A as reinsurance broker and JLT Advisory as strategic capital and analytics advisors worked cohesively with the JLT Analytics practice to support the investors and Weston's management team.

The move will reduce Citizens' exposure in its coastal account by US$30 billion and nearly 15 percent once the 31,000 policies are transferred to Weston and the global reinsurance markets. The deal is the first 'takeout' to cover commercial wind-only policies from Citizens' coastal account, although Weston will also take on personal and commercial residential policies as part of the arrangement.

Alastair Speare-Cole, Head of JLT Re's Global Operation said: "We are proud to be able to help create more capacity to help Citizens reduce their exposures. Craig Darling of our North American operation and Kevin Timmons of our Advisory Team, along with their colleagues have worked hard to bring this project to a successful launch. JLT Re's involvement in this deal underlines our on-going commitment in building a US platform."

--ENDS--

Enquiries:

Jardine Lloyd Thompson
Isabella Young
Tel: 020 7558 3387/07920 586032
Email Isabella


Editor's Notes:

* Depopulation is the removal of policies from Citizens, the Florida state carrier, to the private market, in this case Weston.About JLT Reinsurance (North America) Inc.

About JLT Reinsurance (North America) Inc.  

JLT Reinsurance (North America) Inc. is part of JLT Reinsurance Brokers Limited (JLT Re), a specialist reinsurance broking and consultancy company headquartered in the City of London. JLT Re provides its clients - insurance and reinsurance companies including Lloyd's syndicates - with advice and solutions to protect their capital and enhance their shareholders' value.

JLT Re has five production and marketing centres based in London, New York City, Sydney, Singapore and Bermuda. JLT Re Spain was established in April 2008 to develop reinsurance opportunities in the region. JLT Re Basel was established in June 2011 adding a Life Reinsurance capability and providing a base from which to expand in all areas of Reinsurance into mainland Europe.

www.jltre.com

About Jardine Lloyd Thompson Group plc

Jardine Lloyd Thompson Group plc (JLT) is an international group of risk specialists and employee benefits consultants and one of the largest companies of its type in the world. JLT offers a distinctive choice to clients and partners through our combination of independence, scale and specialism.

JLT is quoted on the London Stock Exchange and employs over 7100 people worldwide and through the JLT International Network provides services in more than 135 countries.

distributed by