JLT purchases Lambert Brothers
Insurance broker Jardine Lloyd Thompson (JLT) Hong Kong recently announced the acquisition of another brokering firm, Lambert Brothers Holdings (LBH), as part of the former company’s efforts to ‘add synergy’ to its business. A spokesman for JLT Asia said that, specifically, LBH adds to the marine, employee benefits and corporate business capabilities of JLT Asia and JLT Hong Kong.
Under the agreement, JLT acquired 100-per-cent shareholdings in Lambert Brothers Insurance Brokers (Hong Kong), Lambert Brothers Insurance Brokers (Employee Benefits) and LBI Agencies, with effect from 1 January this year. JLT Asia’s executive chairman Anthony Langridge said that he was ‘excited to announce this acquisition, which not only adds depth, but strong synergy to our Hong Kong business’, while Duncan Howorth, CEO of JLT Asia, said that ‘there is a strong cultural and commercial alignment between the two businesses with clear opportunities to exploit our specialty strengths’. “We aim to grow our Hong Kong operations whilst aligning our specialties to opportunities across the region as well,” he added.
JLT Asia, part of the London-listed JLT Group, employs around 1,500 staff across China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Macau, the Philippines, Singapore, Taiwan, Thailand and Vietnam.