Jardine Lloyd Thompson said it has acquired Park (Bermuda) Ltd. which will be combined with JLT's existing Bermuda insurance brokerage operation and be renamed JLT Park.

JLT said it is acquiring the firm for $11.8 million. There is an initial payment of $8.85 million with the balance to be paid based on future performance.

The combined business will have approximately forty staff and expects to place in excess of $400 million of premium in the Bermuda market each year, the London-based broker said.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.