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Member, Beacon International Group, Ltd.
Jardine Lloyd Thompson Group P.L.C. reported a pretax profit of £161.7 million ($243.2 million) for 2012, up from £147.6 million ($221.9 million) in 2011.
The London-based brokerage said Tuesday that total revenue for 2012 was £880.06 million, ($1.32 billion), up from £818.76 million ($1.23 billion) the previous year.
JLT said the revenue increase was made up of 7% organic growth and 1% from acquisitions.
The company's employee benefits business revenue increased 10% to £203.7 million ($306.3 million).
In a statement, JLT said it was launching two-year business transformation program that would focus largely on its operations in emerging markets.
The project, which follows from a previous three-year program targeting operational efficiencies in the company's mature markets, is expected to produce cost savings of about £12 million ($18 million) in 2014. James Twining, group commercial director at JLT, said the effort would establish knowledge centers for JLT's business in Latin America and China among other efforts.
JLT also said the property/casualty insurance market remains largely soft. Mark Drummond-Brady, international chairman of risk and insurance of JLT Speciality Ltd. and a member of the group executive committee, said there were rate reductions on most renewal business with the exception of some areas and lines that were affected by losses, such as some marine lines and property lines in Thailand.