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Jardine Lloyd Thompson to Buy Towers Watson Reinsurance Unit

British insurance broker Jardine Lloyd Thompson Group is buying Towers Watson's reinsurance brokerage for $250 million, accelerating an expansion into the United States.

By Chris Vellacott, Reuters, Tasim Zahid, Reuters | Updated on September 20, 2013

LONDON (Reuters) – British insurance broker Jardine Lloyd Thompson Group is buying Towers Watson’s reinsurance brokerage for $250 million, accelerating an expansion into the United States.

In a statement on Friday JLT said the all-cash deal will be completed by the end of the year and is expected to add to earnings in the first full year after completion, with the combined businesses generating annual revenues of $266 million.

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