Jardine Lloyd Thompson Profit Up 7.4 % In 2003
NU Online News Service, Feb. 24, 12:05 p.m. EST?
Jardine Lloyd Thompson, the largest publicly traded insurance brokerage firm in the U.K., said its 2003 net profit jumped to ?72.8 million (or about $135 million) compared to ?67.8 million (about $126 million) in income reported for 2002.
For full-year 2003, the broker's risk-and-insurance revenue rose 12 percent to ?352.8 million, ($654 million), while employee-benefits revenue went up 2.3 percent to ?72.6 million ($135 million) for the year.
Steve McGill, Jardine Lloyd Thompson chief executive, said the firm has made good progress in building for the future and sees excellent opportunities to expand its international reach. He said the company continues to build a diversified business with a long-term focus.
Mr. McGill cautioned, however, that if the U.S. dollar remains at its present weak levels, "this will inevitably have an impact on our reported results over the next two years."
Operating in Asia, Australia, Europe, and North and South America, Jardine Lloyd Thompson's risk-and-insurance unit sells insurance and reinsurance products, including accident, marine, construction, energy and professional liability lines, while reinsurance lines include excess and treaty coverage. Jardine Lloyd Thompson's employee-benefits unit provides risk management solutions, employee benefits and fund administration.
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