JLT Says Profits Grew 8%

NU Online News Service, Aug. 1, 1:50 p.m. EDT

Jardine Lloyd Thompson says net income grew by 8 percent for the first half of the year despite challenges from the continued soft market.

The London-based insurance brokerage firm reported net income grew more than £6 million ($10 million at the current exchange rate) to £80 million ($132 million). Total revenue grew 9 percent, or £34 million ($56 million), to £411 million ($676 million).

“Our emphasis on being a client-first organization is clearly serving us well as demonstrated by our strong organic growth record,” says Dominic Burke, JLT's chief executive, in a statement. “We continue to invest in people, technology and business acquisitions across the group to support our future growth.”

“All this gives us increasing confidence in our ability to continue to deliver year-on-year financial progress, building on the momentum developed in prior years,” he says.

The firm reports that its risk and insurance segment produced organic growth of 8 percent underscored by strong performance in its combined retail operations around the world that generated organic growth of 14 percent.