JLT sells majority stake of Thistle to PIB

Brendan Mcmanus

Thistle's online, affinity scheme and small-to-medium enterprises businesses and its managing general agent underwriting arm are among the areas to be sold to PIB.

The firm's London Market risks, education and housing businesses have been merged into JLT Specialty.

For the year ended 31 December 2015, revenues for the divested Thistle UK businesses were approximately £23m.

The transaction, subject to regulatory approval, is anticipated to complete prior to the end of 2016 and is not expected to

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