JLT: non-advisory branch to merge with Thistle
Jardine Lloyd Thompson (JLT) has revealed it is merging its non-advisory division with Thistle Underwriters.
The announcement came as the broker reported a 14% rise in fees and commissions to £612.9m in 2009 (2008: £536.1m) while underlying trading profit increased by 28% to £97.1m (2008: £76.2m).
The non-advisory part of the business, which distributes cover principally underwritten by a single provider for smaller standard risks, brought in £32m in 2009 - a figure JLT said it hoped to boost to £36m, through the Thistle model, in 2010.
James Gerry, chief executive of Thistle Underwriting, said he was
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