JLT REVENUES UP 5% IN 2015

Jardine Lloyd Thompson has reported a 5% increase in revenue to £1.16bn for 2015 with reported pre-tax profit down 3% to £155m. In preliminary results posted this morning, JLT said its underlying profit before tax had fallen 7% to £170.1m as a direct result of a £20.5m investment in JLT USA. The group’s largest unit JLT Specialty reported a 7% increase in revenue to £311m and JLT Re’s revenue was up 5% to £174m. JLT said it began to see the effects of several key mergers in 2015, including the integration of Towers Watson Re’s US platform with JLT Re, where trading profits increased 24%, and the merger of JLT Specialty with Lloyd & Partners where revenues increased 7% and trading profits rose by 19%. Commenting on the results, group chief executive Dominic Burke said: “The Group faces a number of external headwinds as we go into 2016. However, our focus remains on those factors that we can control and on maintaining the revenue momentum and cost control established over the last 10 years.”