Insurance broker Lockton Inc., Kansas City, Mo., said it will expand its operations internationally and acquire the London-based brokerage business of Alexander Forbes Limited for $170 million.

John L. Lumelleau, Lockton’s chief executive officer, said the all-cash transaction is another step for the company that views itself as an alternative to larger global insurance brokers. The deal is expected to be completed by the end of October of this year.

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