Jardine Lloyd Thompson Group P.L.C. is concentrating on its strengths one year after it sold its U.S. retail operations and abandoned plans to take over a U.K. rival, the brokerage's senior executive says.

Moves to build on those strengths in 2007 have included the purchase of Internet-based intermediary Pavilion Insurance Network P.L.C., the formation of a joint venture to operate in areas where insurance and financial markets converge, and rebranding its captive management group, among other things.

The world's seventh largest brokerage saw slight revenue growth in 2006 despite the weakness of the dollar, in which it derives much of its revenues, against the British pound, in which it pays the bulk of its costs.

Gross revenues increased to £478.9 million ($882.8 million) in 2006, up 3.4% compared with 2005, and brokerage revenues increased 2.5% to £459.5 million ($847.0 million). In its home currency, gross revenues increased by 2.1% and brokerage revenues increased by 1.2%.

The insurance market became significantly more competitive during 2006, making it more difficult for brokers to grow, said Dominic Burke, chief executive of London-based JLT.

But JLT managed to grow by "concentrating on areas where we are significant players," he said.

"If we are not or do not believe that we can become a major player in a sector, then we will question whether we should be in it at all," said Mr. Burke.

The sale of JLT's U.S. retail operations, which was announced in September 2006, reflected an acknowledgement that it would be difficult and expensive to make significant headway in that market, he said.

JLT sold its U.S. property/casualty and employee benefits retail operations to Newport Beach, Calif.-based Alliant Insurance Services Inc.

Last year, JLT called off talks to buy Heath Lambert Group, a rival brokerage based in London. Reasons for the breakdown in talks were not given.

Earlier this year, though, JLT acquired Pavilion for about £7 million ($13.9 million). The company provides insurance coverage for musicians, cyclists and photographers, among other things.

And in February it entered into a joint venture with London-based ICAP P.L.C., a specialty financial markets intermediary.

The joint venture will operate in the "areas where the market for insurance, financial derivatives and securities are converging," such as securitization deals.

In March, JLT rebranded its captive management operations, which were renamed JLT Insurance Management in March.

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