NU Online News Service, Jan. 3, 10:10 a.m. EST

Insurance brokers Jardine Lloyd Thompson Group plc and Brown & Brown Inc. closed out the year by announcing acquisitions.

On Dec. 30 London-based JLT’s subsidiary, JLT Insurance Brokers (Ireland), says it acquired Dublin, Ireland-based insurance broker FBD Insurance Brokers Ltd. from FBD Holdings plc.

As part of this transaction JLT also acquired FBD Risk Management Services Ltd. and International Loss Control Services Ltd. JLT says it intends to merge FBD Brokers with its existing JLT Ireland business.

FBD Brokers was established in 1973 by FBD Holdings plc to manage the commercial insurance needs of large commercial and corporate clients. FBD Brokers employs 33 staff and specializes in the Irish agri-food sector with strong positions in waste management and the renewable energy sectors. FRMS provides cost effective risk management services and ILCS is a liability and motor claims management and administration company.

The team is led by Eamonn Bergin, Managing Director of FBD Brokers.

JLT says it will make an initial payment of €6.75 million (U.S. $8.73 million), and additional payments of up to €1.75 million ($2.26 million) based on financial performance and other adjustments within the year following completion of the transaction.

JLT said today that it has combined its Italian broking business, Jardine Lloyd Thompson S.p.A with the business of Marine & Aviation S.p.A. an Italian brokerage. JLT says it has a 25 percent interest in the new venture. It also has a 25 percent interest in Marine Aviation & General (London) Ltd. JLT paid €5.4 million cash ($7 million) as part of the deal.

Marine & Aviation generated €9.5 million ($12.4 million) in 2010 and profit before tax of €1 million ($1.3 million).

Daytona Beach, Fla.-based Brown & Brown Colonial Claims Corp., Continental Claims Corp., and Colonial Claims of Kentucky, Inc., on Dec. 23.

Terms of the transaction were not released.

With origins dating back to 1982, Colonial Claims was founded by James Douglas “Doug” Branham. With combined annualized net revenues of approximately $6.6 million, the firm provides insurance claims adjusting and related services, including education and training services, throughout theUnited States.

Following the transaction, the acquired Colonial Claims operations will continue to operate from their existing locations in Lexington, Ky. and Dunedin, Fla. under the leadership of Branham.

Special Reports /

JLT Acquires Irish Broker; Brown & Brown Acquires Colonial Claims

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