London-based brokerage Jardine Lloyd Thompson Group P.L.C. on Tuesday said its risk and insurance business is trading in line with expectations despite the challenges of a soft insurance and reinsurance rating environment and falling levels of capital investments by companies, notably in the energy and mining sectors, where commodity prices have fallen.

In its interim management statement for July 1-Nov. 2, 2015, JLT said its specialty and reinsurance units have performed well and that it expects both divisions to report full-year trading margins for 2015 higher than those posted in 2014.

In 2014, the specialty unit posted a trading profit of £52.1 million ($80.4 million) and a trading margin of 20%, while JLT Re posted a trading profit of £24.4 million ($37.6 million) and trading margin of 15%.

JLT said that progress for its U.S. specialty business “continues to be encouraging,” and “we now expect the net investment spend in this business in 2015 to be lower than indicated previously.”

JLT said its international employee benefits segment is seeing organic revenue growth. But the U.K. employee benefits business is experiencing a slowdown in underlying trading profit, caused in part by a slowdown in new business because of uncertainty over government changes to occupational pensions and a governmental review on commission revenue, JLT said.

JLT said, therefore, that it expects revenue in the U.K. employee business to fall by a “mid- to high-single-digit percentage” compared with 2014, while trading profit likely will be in the low to mid-teens millions of pounds.

“Our risk and insurance and international employee benefits businesses have continued to perform robustly despite challenging trading conditions,” Dominic Burke, group CEO of JLT, said in the statement.

“We are confident that these businesses will deliver good levels of organic revenue growth for the full year, with the performance of our emerging markets operations particularly encouraging,” he said.

“Equally pleasing is the momentum in the United States as a result of our ongoing investments. While the recent performance of our U.K. employee benefits business is clearly disappointing, we are confident of returning this business to long-term growth,” he added.