Broker's performance in line with expectations.
JLT “remains on track” to achieve sustainable growth despite the market turmoil, it has announced.
The broker said its trading performance across its five lines – retail, speciality, wholesale, reinsurance and employee benefits – was in line with expectations for the third quarter.
But the UK company, which has significant US operations, said it would not receive the full benefit of the strengthening dollar because its hedging programme and other currencies have weakened.
In the half year to 30 June, JLT reported underlying pre-tax profit of £53.4m, a 4% rise on the same period last year. Fees and commissions rose 9% to £266.2m.
Dominic Burke, its chief executive, said: “We have ... put the right strategy in place to ensure JLT’s operations are in a strong position to make continued progress.”
