Jardine Lloyd Buys Benefit Consultant

One of the U.K.’s leading insurance brokers, Jardine Lloyd Thompson Plc (JLT), announced that it has acquired Abbey National Benefit Consultants Ltd. for $22.5 million ($32.4 million) in cash.

Reuters News Agency quoted JLT CEO John Hastings Bass as saying, “In accordance with our strategy of aggressively developing our outsourcing business, this acquisition gives us a major position in the UK pension administration market.”