Jardine Lloyd Thompson Ireland Holdings (JLT Ireland) has acquired Liberty Asset Management Limited from Friends First Life Assurance Group.
JLT provides insurance, employee benefits advice and brokerage, while Liberty advises organisations and trustee boards on employee benefit arrangements and individuals on wealth management.
The acquisition is expected to create a strong position in the Irish employee benefits industry, which is going through a period of considerable change.
Pat Howett, chief executive officer at JLT Ireland, said: “This acquisition provides a unique opportunity to bring together two perfectly aligned businesses.
“The scale of the integrated business will make JLT a new significant force in the employee benefits sector in Ireland.”
Steve Robinson, UK director at JLT Employee Benefits, said: “Liberty Asset Management has a very strong emphasis on client service and building strong relationships, so culturally is a good fit with JLT.”
Michael Lacey, managing director at Liberty Asset Management, added “We are confident that by becoming a member of the JLT family we can provide new opportunities to both our customers and employees through increased investment in our services and people.”