By Jason Ng
Jardine Lloyd Thompson Group , a U.K.-based insurance broker and consultancy, said Friday that its Malaysian unit has acquired privately held Insfield Insurance Brokers as part of a plan to expand its presence in the region?s insurance sector. The company didn?t disclose the transaction value.
?[The acquisition] enables JLT Malaysia to establish an immediate footprint in the marine offshore sector, which supports our intention of expanding our marine specialism to more countries in Asia,? Goh Chye Huat, Jardine Lloyd?s managing director for Singapore and Malaysia, said in a statement.
Global insurers have been on a buying spree in Southeast Asia lately, which offers relatively open markets and fat profit margins as well as attractive growth prospects.
Source: http://blogs.wsj.com/deals/2013/02/01/jardine-lloyd-thompson-snaps-up-malaysias-insfield-insurance/
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