Interim Management Statement

Jardine Lloyd Thompson Group plc Interim Management Statement for the three months ended 30^th September 2009  

Jardine Lloyd Thompson Group plc ("JLT" or "the Group") is today releasing its Interim Management Statement for the three months ended 30^th September 2009 in accordance with the requirements of the Disclosure & Transparency Rules of the UK Listing Authority.

 

Performance during the period

The Group's performance for the third quarter ended 30th September 2009 was in line with our expectations. JLT remains on track to achieve its financial objectives and to make further progress in 2009.

Insurance market conditions continue to be competitive in most classes of business with no consistent evidence of rates hardening.  Across our operations we have continued to experience the adverse impact of global economic slowdown and reduced levels of corporate activity as well as unprecedented low rates for investment income.

Despite the challenging insurance market conditions, our Risk & Insurance business overall continues to trade strongly and achieve encouraging levels of organic growth.  The performance of our London Market businesses has been particularly robust; our retail insurance broking businesses around the world have reflected the different speed of economic recovery in the different countries and regions in which they operate.  As reported at the time of our interim results, our Employee Benefits business in the UK and Ireland has been adversely impacted by the economic downturn but is well positioned to recover with the market.

 

JLT's balance sheet continues to be in a strong position with low net debt under bank facilities committed to December 2011.

 

Outlook

JLT has good momentum and is well placed to benefit as the economic and insurance industry background improves and to take advantage of growth opportunities including new hires and acquisitions.

 

Dominic Burke, Chief Executive said:  " JLT remains well positioned and we will continue to build on our successful strategy of balanced growth - organically, by bolt-on acquisitions and through selective hiring of industry-leading people."

 

There have been no material events or transactions in the quarter and there have been no significant changes in the financial position of the Company since the publication of the Interim Results for the six months to 30^th June 2009.

 

-ENDS-

 

Enquiries:

Paul Dransfield                                                               020 7528 4933

Head of Group Corporate Communications

Jardine Lloyd Thompson Group

 

Liz Morley/Anthony Silverman                                          020 7379 5151

Maitland

 

 

The Interim Management Statement may contain forward-looking statements which:

- have been made by the directors in good faith based on the information available to them up to the time of their approval of this statement; and

-  should be treated with caution due to inherent uncertainties, which are beyond Jardine Lloyd Thompson Group's ability to control or estimate precisely and include both economic and business risk factors, underlying such forward looking information.

The Interim Management Statement is available on the Company's website at www.jltgroup.com.

The Group's unaudited interim results for the six months ended 30^th June 2009 are available on the Group's website www.jltgroup.com or from the Group Company Secretary, David Hickman, at 6 Crutched Friars London EC3N 2PH.

 

Editors' Notes:

Jardine Lloyd Thompson Group plc

Jardine Lloyd Thompson Group plc (JLT) is an international group of Risk Specialists and Employee Benefits Consultants and one of the largest companies of its type in the world.  JLT offers a distinctive choice to clients and partners through our combination of independence, scale and specialism.

Jardine Lloyd Thompson Group plc is quoted on the London Stock Exchange and employs 5,500 people worldwide and through JLT Network^TM provides services in more than 120 countries.

http://www.jltgroup.com/