JLT to restructure business to maximise benefits of managing general underwriter Thistle
Jardine Lloyd Thompson (JLT) has announced a 14% rise in fees and commissions to £612.9m in 2009 (2008: £526.1m) while underlying trading profit increased by 28% to £97.1m (2008: £76.2m).
The broker saw profit before tax and underlying profit before tax both increase by 10% to £102m and £104.8m respectively.
Its risk and insurance division, which comprises JLT’s retail and London Market broking business, saw combined turnover increase by 16% to £519.9m or 8% ate CRE, comprising 6% organic growth and 2% attributable to acquisitions.
Underlying trading profit increased by 22% to £97.2m for the year representing an underlying trading margin of 19% compared to 18% for the prior year
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