JLT Australia and New Zealand has recorded revenue of £61.1 million ($130.4 million) for the six months to June 30, up 1% on the corresponding period last year.

This growth rate is below the wider JLT group’s 6% rise to £591.6 million ($1.26 billion).

When factoring in the Australian dollar’s fall against sterling, JLT Australia and New Zealand’s half-year revenue was down 5%.

However, the company prefers to focus on Australasia’s 1% organic revenue growth for the half-year.

JLT Australia and New Zealand CEO Leo Demer says the division “had a very good new business push for the first six months” in its construction, corporate risk and local government operations.

“We’ve picked up some major new clients in the construction industry, and in local government we’ve had a very strong performance in Queensland,” he told insuranceNEWS.com.au.

Mr Demer says the first-half result “positions us well for the rest of the year”.

Some major hires will help JLT’s local prospects, including former Willis GM placement services, risk services and claims Maurice Gatto, who is joining as GM Broking and Placement this month.

Former Aon regional MD Paul Johnson joined JLT as Head of Risk Consulting in March.

JLT Group has reported a net profit of £73.9 million ($157.7 million) for the half-year, up from £66.6 million ($142.1 million) in the corresponding period last year.

Despite a market that “continued to be challenging”, Group CEO Dominic Burke is pleased with the company’s “underlying growth momentum” and “strong progress” in the US specialty operation, which was set up in August last year.

The US is on course to create “a powerful platform for future growth for the whole group”, although it is currently trading at a loss.

JLT Specialty USA employs 150 people in 12 offices. It posted a net trading loss of $US19.4 million ($26.5 million) for the six months. “As anticipated… the cost of the US expansion is weighing against our short-term profitability,” Mr Burke said.

He strikes a positive but less than bullish note for JLT’s full-year prospects. “As we look forward, the business is well positioned to deliver sustainable earnings growth.”