Jardine Lloyd Thompson takes Spanish business by the horns
Jardine Lloyd Thompson (JLT) is to spend €16.8m combining its Spanish retail brokerage with local insurance broker March - Unipsa.
Jardine Lloyd Thompson (JLT) is to spend €16.8m combining its Spanish retail brokerage with local insurance broker March - Unipsa.
In Britain JLT is known as an insurance broker and employee benefits consultancy.
It says it will own a 25% stake in the new entity which will be called March-JLT.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Unipsa's core business is corporate-focused, with specialities including construction, tourism and marine & cargo.
The business employs around 100 people with offices in Madrid, Mallorca and Barcelona. In 2010 Unipsa had revenues of €16.7m, its parent company is Banca March.
The €16.8m spend comprises cash and JLT's existing Spanish business.
Commenting on the transaction, which is still awaiting Spanish regulatory approval, JLT executive Mark Drummond Brady said. "This is an exciting development for JLT and is aligned with our European network strategy of holding associate stakes in leading independent businesses."
Jardine Lloyd Thompson had gained 0.7% by 09.49. Over the last 12 months the stock has risen 6%.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
73% of savers plan to rely on partner’s pension in retirement
A new survey suggests the majority of people may lack financial independence in retirement, with almost three-quarters set to rely on their partner’s pension
-
How much you need to follow the 25x retirement rule – will you have enough to be financially independent?
We explain what the 25x retirement rule is and the amount you would need to be financially independent in retirement.