JLT BUYS NORWEGIAN BROKER

Independent broker Jardine Lloyd Thompson (JLT) has bought Norway-based insurance broker and employee benefits company Tripol for about NOK34.5m ($5.91m). The Oslo-based business, which specializes in the Real Estate and Construction business, will be merged with JLT's existing Norway operation. The acquisition has taken place through JLT subsidiary JMIB Holdings BV. Tripol was previously owned by seven management staff, led by Ola Haalien, all of whom will remain with the company. JLT is paying 70% of the purchase price on completion, plus 5% on determination of a completion balance sheet. The remaining 25% is dependent on post-completion adjustment based on revenues in 2011. JLT Continental Europe head of broking Adrien Girling said that "Tripol will add significantly to our increasingly important Nordic business activities and with their acknowledged expertise in Construction and Real Estate they add yet more strength to our international capabilities in what are two important JLT specialisms".