Jardine Lloyd Thompson Group (JLT) Hong Kong, an insurance and reinsurance broking, risk management consultancy and employee benefits services firm, has acquired Lambert Brothers Holdings Limited (LBH), as part of efforts to grow its market presence across Asia.
LBH is an independent insurance and employee benefits broker with over 40 insurance professionals.
JLT Asia CEO Duncan Howorth said: "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."
The acquisition will add to Marine, Employee Benefits and Corporate business capabilities of both JLT Asia and JLT Hong Kong. As part of the acquisition, LBH teams will join JLT’s existing Hong Kong business operations.
LBH managing director Mike Haynes will join the board of JLT’s Hong Kong business as deputy chairman, while the combined business will be run by JLT Hong Kong managing director Nick Cousins.
Haynes said: "JLT has a long standing heritage in Asia with a strong ‘client first’ reputation that was very attractive to the team at LBH. We see this as a significant opportunity for our clients to benefit from access to JLT’s unrivalled specialty capabilities and international platform and for our employees to have every opportunity to develop and fulfil their career aspirations within JLT."
Image : JLT Hong Kong acquires Lambert Brothers. Photo courtesy of Adamr / freedigitalphotos.net.