Jardine Lloyd Thompson IMS
Interim Management Statement
Jardine Lloyd Thompson Group plc ("JLT") is holding its Annual General Meeting at 12 noon today where the following comments will be made regarding current trading, financial performance and the outlook for the financial year. This statement covers the period from 1st January to 25th April 2012 in accordance with the requirements of the Disclosure and Transparency Rules of the UK Listing Authority.
The Group has made a positive start to the year and the overall trading performance is in line with expectations. Insurance markets continue to be competitive across most sectors although there has been some stabilisation of rates, as well as evidence of hardening in respect of certain catastrophe related risks.
In Risk & Insurance, encouraging levels of organic growth are being achieved, building on recent investments, with Latin America and Asia continuing to make a strong contribution, together with our growing reinsurance operation.
The Employee Benefits business continues to make progress particularly in the development of its international footprint.
The acquisitions of Alta SA in Chile and of FBD Insurance Brokers Ireland made in the second half of 2011 are performing well, in line with our expectations.
JLT's financial position remains strong.
There have been no material events or transactions during the period and there have been no significant changes in the financial position of the Company since the publication of the Annual Report for the year ended 31st December 2011.
The overall trading performance of the Group in the period is in line with expectations and notwithstanding the continuing uncertain global economic outlook JLT remains well placed to make financial progress in 2012.