February 28, 2018 / 7:37 AM / 4 months ago

JLT's FY pretax profit up 35 pct, plans reorganisation

Feb 28 (Reuters) - Insurance and reinsurance broker Jardine Lloyd Thompson Group Plc (JLT) reported a 35 percent rise in full-year pretax profit and said it would reorganize, creating three divisions.

The company said the reorganisation to create the reinsurance, specialty, and employee benefits divisions would generate annualised savings of 40 million pounds ($55.6 million) by 2020, with a one-off cost of 45 million pounds spread across 2018 and 2019. The reorganisation would be effective from April 1.

JLT’s pretax profit rose to 181.6 million pounds in the year ended Dec. 31, from 134.9 million pounds a year earlier, while revenue rose 10 percent to 1.37 billion pounds.

$1 = 0.7194 pounds Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amrutha Gayathri

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