Jardine Lloyd Thompson said prediction that 2004 would be a year of transition as it repositioned its Risk Solutions subsidiary had been borne out by its first quarter results.
JLT had warned that the weak US dollar and the changing reinsurance environment would impact Risk Solutions when it announced its preliminary results on 23 February 2004.
In a statement provided to shareholders, chairman Ken Carter said: “Our retail insurance operations and employee benefits businesses continue to perform well.
“The Group is and has been actively involved in high level recruitment and bolt-on acquisition activity, the positive effects of which should become apparent in the second half of 2004 and beyond.
“With regard to the possible acquisition of Heath Lambert's majority shareholdings in certain of its Latin American businesses, as referred to in the preliminary results announcement in February, we are continuing to conduct due diligence.”
