NU Online News Service, Jan. 21, 3:58 p.m. EST

Insurance brokerage Lockton said it has acquired a significant holding in the South Korean insurance brokerage IMI, renaming it Lockton Companies (Korea) Inc., with options to purchase a bigger shareholding.

A spokesman for the Kansas City, Mo.-based firm said as a private company, it is not releasing how large the equity stake is.

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