LONDON (dpa-AFX) - Jardine Lloyd Thompson Group Plc (JLT.L) Friday said its wholly owned subsidiary JLT Insurance Brokers (Ireland) Ltd. has acquired FBD Insurance Brokers Ltd, an insurance broker based in Ireland, from FBD Holdings plc (FBH.L).
The total consideration comprises an initial payment of 6.75 million euros, an additional payment of 500k euros adjustable on working capital and a deferred payment up to but not exceeding 1.25 million euros.
As part of this transaction, JLT has also acquired FBD Risk Management Services Ltd and International Loss Control Services Ltd. It is intended that the businesses of FBD Brokers will be integrated with the existing business of JLT Ireland.
FBD Risk Management Services provides cost effective risk management services and International Loss Control Services is a Liability and Motor Claims Management and Administration Company. The company added that the transaction strengthens the services available to existing and prospective clients in Ireland.
Copyright RTT News/dpa-AFX
