Business Services Industry
JLT launches review of business.(World)(Jardine Lloyd Thompson Group P.L.C)
Business Insurance, March, 2006
Byline: SARAH VEYSEY LONDON-Jardine Lloyd Thompson Group P.L.C. is undergoing a review as it faces tougher operating conditions in the wake of U.S. probes into brokerage practices. The London-based broker was not forced to make the large settlement offers to clients that some of its larger rivals were, but the decision by the broker to shed some income from contingent commissions, as well as the current competitive marketplace, have made conditions challenging for JLT, its new Chief Executive Officer Dominic Burke said in announcing a 23.3% drop in pretax profits for 2005, to [pounds sterling]73.8 million ($126.8 million).
Mr. Burke, who became CEO in December, said he had instigated an ongoing operational review at JLT to "evaluate prospective...
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