JLT acquires HSBC Insurance Brokers business

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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