JLT reports strong Q3 trading

by Gill Montia

Story link: JLT reports strong Q3 trading

Jardine Lloyd Thompson (JLT) has reported that the group’s performance for the third quarter of 2009 was in line with expectations and that it remains on track to achieve its financial objectives in 2009.

According to the broker, insurance market conditions continue to be competitive in most classes of business with no consistent evidence of rates hardening.

Despite the challenge, the group’s Risk & Insurance business overall continues to trade strongly, with the London Market businesses “particularly robust”.

However, JLT’s Employee Benefits business in the UK and Ireland has been adversely impacted by the economic downturn.

Looking to the future, chief executive Dominic Burke, comments: “JLT remains well positioned and we will continue to build on our successful strategy of balanced growth – organically, by bolt-on acquisitions and through selective hiring of industry-leading people.”