The UK-headquartered broking company said it made a profit of £98.4m (€124m, $166m) during the period and reported a 15% rise in total revenues.
The company said it witnessed a 6% growth in organic revenues during the period even as there was a “significant” decline in the insurance and reinsurance rating environment, particularly in the second quarter, and the rise in the strength of sterling. This has also resulted in the company taking a more cautious view for the rest of the year.
Dominic Burke, chief executive said: “We are confident that we can deliver year-on-year financial progress, but we are more cautious over the outlook for the remainder of the year given the marked decline in the insurance and reinsurance rating environment over the last quarter and the continued strength of sterling.”
Burke said the company’s strategy of focusing on “areas of specialisation and higher growth economies” has contributed to the growth in organic revenue, which is based on total revenue excluding the effect of currency, acquisitions, disposals and investment income.
For the risk and insurance business, JLT Asia’s revenue rose by 9% over the same period last year to £38m while the employee benefits business grew by 35% to £30.6m.
JLT Asia, which operates in 12 countries and employs 1,600 staff represents approximately 17% of group revenues and profits.
Duncan Howorth, chief executive of JLT Asia, said: "Our risk and insurance business remains well-placed to benefit from the economic growth in the region, and our specialty-led approach provides our clients with the exercise and access to insurance protection that they need.
"We will continue to invest in building our specialty capabilities, particularly in the areas of construction, energy and marine.”
In January, JLT completed acquisition of Lambert Brothers in Hong Kong, which Howorth said has added to its marine and corporate business capabilities in the region.
Last week, Skandia International entered into a strategic partnership with JLT Asia as the insurance company seeks to tap the high net worth individuals in Asia through JLT’s distribution network in Hong Kong and Singapore.
