purchase the share capital of Graham Bell and Company Ltd. for $2.08 million.

The deal includes $1.75 million in cash and the balance will be paid with 184,761 in Lloyd Thompson shares.

Lloyd Thompson took a 49 percent stake in Bermuda insurance brokers Triangle Brokerage Ltd. this year.

Graham Bell, a marine insurer founded in 1990, had brokerage and fee income for the year ended September 30, 1994 of about $1.8 million, said Bloomberg Business News.

The vendors are the directors and certain employees of Graham Bell, which was led by its founder Mr. Graham Bell. Other than the present chairman of GBL, Mr. John Plumer, who plans to retire, all the directors and staff will join Lloyd Thompson Group's principle broking subsidiary, Lloyd Thompson Ltd.