Jardine Lloyd Thompson acquired Heath Lambert?s operations in Peru

Jardine Lloyd Thompson, one of the world?s largest insurance and reinsurance brokers, has acquired the Peruvian insurance and reinsurance brokerage businesses of Heath Lambert, Europe?s largest independent insurance and reinsurance broker. The acquisition includes Heath Lambert?s 60% interest in Heath Lambert Peru and 51% interest in Mariategui Heath Lambert Corredores de Seguros. Local shareholders retain the remaining minority interests. The agreements were executed on July 28 and the acquisition in Peru closed on December 2.

The Peruvian acquisition is part of Jardine Lloyd Thompson?s expansion in Latin America, adding operations in Peru, Colombia, and Mexico to its existing presence in Brazil, plus an exclusive representation of Heath Lambert?s former operations in Venezuela. The aggregate purchase price on a regional basis is US$47 million. The acquisition agreements include performance related payments over the next three years and the possible acquisition of certain minority shareholdings, capped at an aggregate additional consideration of US$96 million.

Rodrigo, Elias & Medrano Abogados advised Jardine Lloyd Thompson in Peru through senior partner Jorge Velarde in insurance matters and partner Jean Paul Chabaneix and associates Alfonso Montoya and Liliana Mavila in M&A matters. In-house counsel Vyvienne Wade, Anthony Marsh and Jamshed Jeejeebhoy also advised Jardine Lloyd Thompson.

Heath Lambert took counsel in Peru from Estudio Luis Echecopar García through attorney Pablo Berckholtz.

The Peruvian minority shareholders used Muñiz, Forsyth, Ramirez, Perez?Taimán & Luna Victoria as counsel, through attorneys Sergio Oquendo and Gillian Paredes.