Jardine Lloyd Thompson Group said at its Annual General Meeting this week that "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 FDB 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.
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."
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