Growing JLT Moves up to second place in Insurance Times
Top 50 Brokers Report
5th September 2011, London: Jardine Lloyd Thompson (JLT) has climbed to second place in the Insurance Times Top 50 Broker list, overturning the order of the top three for the first time since 2008.
The listed international group of Risk Specialists and Employee Benefits Consultants achieved growth of 17% despite the tough economic environment - described by IMAS, which provides the data for the annual survey, as a "great achievement". Profits after tax grew by almost one third last year to £90.7m for the full year of 2010 compared with £70.9m in 2009.
Asked by Insurance Times whether his major competitors had taken their eyes off the ball, JLT chief executive Dominic Burke said: "Certainly some of our competitors, it might be said, haven't got the same level of engagement with their people that we have, and we have had great success attracting people from each of our larger competitors, perhaps one more than the other two. It is not for me to say why that is, but certainly we find ourselves with a story and a culture and an ethos that is increasingly attractive for staff."
Recently Burke has ruled out a transformational acquisition, but said JLT was in the market for opportunistic M&A. He said: "I don't see how it would be in the interest of our stakeholders to go out and spend a large cheque on one of the consolidators, for example. I don't think those businesses, as good or as bad as they may be, are going to add much to what we do and how we do it.
"We have made acquisitions, but by definition they're small. They've been smart and they've been accretive and blended well with our existing businesses. We will very much continue to follow that strategy."
Burke added that further growth would come particularly in JLT's specialty and reinsurance businesses, as well as its underwriting agency Thistle.
Go to Insurance Times website for more details: http://www.insurancetimes.co.uk/
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Enquiries:
Jardine Lloyd Corporate Communications
Isabella Young
Tel: +44(0) 20 7558 3387
Email
Editor's Notes:
Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson Group plc (JLT) is an international group of risk specialists and employee benefits consultants and one of the largest companies of its type in the world. JLT offers a distinctive choice to clients and partners through our combination of independence, scale and specialism.
The Jardine Lloyd Thompson group is quoted on the London Stock Exchange and employs over 6200 people worldwide and through the JLT International Network provides services in more than 130 countries.
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