JLT says rating environment remains weak

In a stock exchange statement JLT said that conditions in Europe had been "more challenging" for organic growth than in Latin America and Asia.

The statement read: "The insurance rating environment remains weak across most sectors with the international markets continuing to be particularly competitive.

"However, following the recent run of catastrophe losses, the London Market and more specifically the Lloyd's Market appears to be less receptive to further rate reductions."

The company claimed