JLT acquires HSBC Insurance Brokers business
Dominic Burke, chief executive of JLT, said the acquisition of HSBC Actuaries and Consultants creates exciting opportunities for growth
Jardine Lloyd Thompson (JLT) Group has acquired HSBC Actuaries and Consultants (HAC) a UK employee benefits and actuarial consulting firm.
HAC has been purchased from HSBC Insurance Brokers Holdings, a subsidiary of HSBC Holdings, for a purchase price of £27.25m in cash subject to an adjustment for surplus net assets on completion.
In the year ended 31 December 2008, HACL’s reported revenues were £40.1m, generating an operating profit of £2.8m. The gross assets of HAC at completion are estimated
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