Jardine Lloyd Thompson (JLT) has acquired a portfolio of aviation insurance business from Heath Lambert, it announced.
The revenue of the aviation portfolio involved is estimated to be at least £12.5m. JLT will pay Heath Lambert a cash consideration of £9.4m, payable in three equal instalments, over the next six months.
JLT also said Nigel Weyman, managing director of Heath Lambert's aerospace business, had joined JLT risk solutions, along with 60 of his colleagues.
JLT chief executive Steve McGill said: "This transaction provides JLT with the opportunity to substantially build on its existing aviation business and further demonstrates our commitment to build a market leading position in all those areas in which we choose to operate."
