Jardine Lloyd Thompson acquires Harman Wicks & Swayne

HWS's reinsurance broking business will be combined with JLT's existing Non-Marine Treaty operation and will trade as part of JLT Re. The UK wholesale business will be integrated within JLT's UK insurance broking business.

HWS will b purchased from its shareholders, which consist wholly of its management and employees, for a net cash consideration comprising an initial payment of £5m and a deferred element up to a maximum of £3.75m.

The deferred element is based on the future performance of