JLT reports continued revenue growth despite falling premium rates

Jardine Lloyd Thompson Group P.L.C. said Tuesday that its risk and insurance operations continue to achieve “satisfactory organic revenue growth” despite further reductions in rates for many lines of insurance and reinsurance business and the continued strength of the pound sterling against other currencies, notably the U.S. dollar.

In its interim management statement Tuesday, London-based JLT said that its performance for the first quarter of the year had been in line with its expectations because of high client retention, among other factors.

JLT said its employee benefits operations also had made good progress, particularly in emerging markets.

“Despite the continuing reductions in insurance and reinsurance pricing and the strength of sterling, our strategy of deepening our specialist capabilities and broadening our geographic reach gives us confidence in our ability to deliver year on year financial progress,” Dominic Burke, CEO of JLT, said in the statement.