LONDON–Jardine Lloyd Thompson Group P.L.C. said Tuesday that it is acquiring HSBC Actuaries & Consultants Ltd. to boost its employee benefits business.
The London-based broker, which offers benefits services through JLT Benefits Solutions Ltd., said acquiring the unit of HSBC Group will “significantly” add to its expertise in defined contribution and defined benefit pension plans and other employee benefit programs.
London-based HSBC Actuaries & Consultants reported £40 million ($65.9 million) in 2008 revenues and has about 440 employees.
Terms of the acquisition were not released.
“This transaction underlines our determination to see our employee benefits business grow as a strategically central part of the JLT Group,” Dominic Burke, chief executive of JLT Group, said in a statement.
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