Jardine Lloyd Thompson’s first-half profit rises 10%

(Reuters) — Insurance and reinsurance broker Jardine Lloyd Thompson Group P.L.C. reported a 10% rise in first-half underlying pretax profit, and said rates increased “substantially” in some parts of its retail business.

The company, which advises mainly on risk management and employee benefits insurance, said underlying pretax profit rose to £108.8 million ($143.6 million) in the six months ended June from £99.2 million a year earlier.

Separately, Lloyd’s of London insurer Lancashire reported a rise in first-half pretax profit to $74.9 million from $66.7 million.

Lancashire said some of its competitors were exiting unprofitable lines of business and that Lloyd’s was beginning to take action on underperforming syndicates and lines of business.