Broker to buy Lloyd's business and overseas interests of PWS

THB has revealed that negotiations have commenced with the board of PWS Holdings for the acquisition of the Lloyd’s broking business of PWS International and the overseas interests of the PWS group.

Acquisition terms are yet to be agreed and due diligence is currently being carried out.

The two companies are hopeful that terms can be agreed that will result in a transaction being concluded beforethe end of the year.

THB Group chief executive, Vic Thompson, said: “The two businesses would complement each other’s operations well.

"PWS is a well respected reinsurance broker, operating primarily in the international market and offers access to important growing markets in the Far East and Europe as well as South and Central America.”

Three months ago, THB acquired health and safety specialist Cardinus Limited in a deal to complement and enhance the Group’s existing risk management proposition.