JLT profits rise by 20%

UK broker Jardine Lloyd Thompson does not intend to make any more disposals during the course of th...

UK broker Jardine Lloyd Thompson does not intend to make any more
disposals during the course of the year, chief executive Steve mcGill said this week.
The news came as the broking group announced pre-tax profits before exceptional items of £50.9m to
30 June, up 20% on last year's figures.

During the first six months of 2002, JLT also made £3.9m from the sale of a
range of services, including its professional affinity group services and
JLT insurance services.

Mr McGill said the broking group - the largest UK-owned
listed broker - does not intend to sell off any more parts of the business
as he pointed to the "outstanding success" of the risk & insurance group,
which enabled trading profit to rise 32% to £39.5m.

He added that the risk & insurance group, which increased turnover by 19%
to £95.7m, has benefited from client wins from major competitors - in
particular Marsh and Aon.

Excellent performers within the group came from the accident & health,
cargo, casualty, construction, energy, financial & professional risk and
marine reinsurance units.

Mr McGill said its Bermudian broking operations had also demonstrated
strong growth in the present environment, while on the employee benefits
side in the UK, corporate healthcare and pension consulting have performed

On the subject of the company's independent status - JLT has for some time
been touted as a merger candidate for other large brokers - he was clear:
"We're delighted. It's served our shareholders well and it's a business
model that has served our clients very well."
  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

Best Insurance Employer 2021

Between 15 March and 15 May Post invited insurance employees, through emails, social media and via the brand’s print and online channels, to nominate and rate their employers on a variety of aspects including their management, diversity, work/life balance and whether they would recommend the employer to a friend. More than 2300 responses were received and more than 50 firms were nominated.

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: