Jardine Lloyd Thompson Group plc said it has entered into an agreement with International WMS Pte Limited (IWMS), based in Singapore, to share joint ownership in a new life business.
Under the agreement, the London-based insurance broker will acquire a 50.1 percent shareholding in JLT Private Client Services Pte Ltd (JLTPCS), a company based in Singapore providing life insurance services to the wealth management market in Asia.
JLT will pay a maximum $6 million in cash for the holding subject to future financial performance of the business.
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