London-based insurance broker Jardine Lloyd Thompson Group Plc (JLT) has acquired Wolverhampton-based rival Ingham Holdings for up to £14 million. 

London-based insurance broker Jardine Lloyd Thompson Group Plc (JLT) has acquired Wolverhampton-based rival Ingham Holdings for up to £14 million.

In the year to February 2009, Ingham generated £19m of gross written premium. The acquisition expands JLT’s underwriting division, Thistle.

James Gerry, CEO of Thistle, said: “As we near the completion of our platform development, it is clear that the acquisition of Ingham offers a number of key benefits and opportunities for Thistle, including a proven track record, an excellent reputation within the UK and an exceptional distribution network.”

JLT reported a decrease in pre-tax profits of three per cent to £92.8 million.