Jones Lang LaSalle has formed a joint venture with Austbrokers Sydney, an Australian-listed insurance broking company, to move into the world of insurance broking

The joint venture aims to offer its services to the global property adviser at both a corporate and client level. It is the first time a joint venture between an insurance broker and a property services firm has been formed.

Managing director at Jones Lang LaSalle Insurance Services, David Lee-Young, said: ‘Jones Lang Lasalle Insurance Services will provide insurance broking experience to complement the comprehensive range of integrated services to our clients.

‘Among a number of our initiatives, our niche property bond products will allow our landlord, tenants and business partners to manage their balance sheet more effectively and tailor their commercial property needs to their specific risk profile.’