JLT’s Australia and New Zealand division reported a profit of £39.6 million ($64.27 million) last year and revenue growth of 7% to £117.7 ($191.06 million).

Regional CEO Leo Demer told insuranceNEWS.com.au it is “a particularly good set of numbers for us”.

The preliminary report notes a number of high-profile client gains in the financial lines and corporate division for Australia and New Zealand.

The group did not fare so well globally, with the soft insurance and reinsurance rates environment, depressed commodity prices and lacklustre global GDP growth leading to a 21% drop in JLT Group’s full-year profit to £81.5 million ($130.83 million).

A weak pound contributed about £22.2 million ($35.64 million) to the group’s underlying profit before tax last calendar year.

Group CEO Dominic Burke says they are a “good set of financial results” in a challenging environment.

“The group entered [this year] in good shape, with momentum and confidence that JLT is well positioned to deliver organic revenue growth more in line with historical rates,” he said.

“The resilience we showed last year positions us very well for further growth.”

Group highlights include divestment of the non-core Thistle UK business, which made an operating loss of £3.6 million ($5.78 million) last year. The operation is continuing in Australia, however.

JLT also grew its UK employee benefits business, with second-half revenue of £85.1 million ($136.64 million), up from £82.4 million ($132.79 million) in the corresponding period of 2015.

The continued expansion of US specialty delivered $US56 million ($73.08 million) of revenue and is on track to deliver profits in 2019.

Operating profit decreased 9.7% to £155.6 million ($250.75 million.