JLT Group has signed a deal to buy a 50.1% interest in Alta SA, the holding company of Chilean broker Orbital Corredores de Seguros and reinsurance broker Alta Re.
The deal is expected to be finished by the second half of 2011, and JLT has the option to buy a further 25% of Alta SA in 2020.
Alta SA chief executive Jose Ignacio Lathrop and chairman Federico Tagle will keep their roles.
Alta SA generated a net revenue of $8.1m in 2010 and produced a profit before taxation of $3.4m.
JLT Latin American chief executive Vyvienne Wade said: "This acquisition continues JLT's drive to expand its Latin American businesses following a strong performance in 2010."
Lathrop said: "We see this deal as beneficial to our clients and our employees."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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