Insurance broker Lockton Inc., Kansas City, Mo., said it willexpand its operations internationally and acquire the London-basedbrokerage business of Alexander Forbes Limited for $170million.
John L. Lumelleau, Lockton's chief executive officer, said theall-cash transaction is another step for the company that viewsitself as an alternative to larger global insurance brokers. Thedeal is expected to be completed by the end of October of thisyear.
Currently, Lockton has 14 locations throughout the United Statesin all the major cities. With the announcement of this acquisition,it now “has a global platform to make the kind of investments thatwill allow us to extend our base to our clients around the worldand deliver our high level of service,” he said.
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