JLT Australia and New Zealand’s revenue grew 5% to $143 million in the first six months of the year, while underlying trading profit gained 8.1%.

Risk and insurance business revenue increased 1% to $120.2 million, while the employee benefits operation’s revenue gained 39% to $22.8 million, according to local currency figures provided to insuranceNEWS.com.au. 

JLT, part of the London-listed Jardine Lloyd Thompson Group, says it has added one of Australia’s largest agribusinesses and a leading legal firm to its portfolio, and acts for 13 of the Australian Securities Exchange’s top 50 companies.

“It was a very good six months for us, with some notable wins in terms of new business,” CEO Leo Demer told insuranceNEWS.com.au.

The London-based parent company says the strong performance was offset by a significant decline in insurance rates in the region, which limited the organic revenue growth rate.

The employee benefits business had good growth in the half, reflecting a strategy of focusing on workers’ compensation and return-to-work outcomes, and strong contributions from last year’s acquisitions of Recovre and Alpha Consultants.

Globally, the group’s revenue grew 5% to £619.4 million ($1.06 billion) for the six months to June 30. Profit before tax fell 46% to £55.2 million ($94 million), reflecting net investment in JLT USA and exceptional costs, while the underlying result eased 7%.

“We are seeing significant financial benefit from collaboration between our specialty operations around the world, which is helping sustain momentum and drive organic revenue growth across the business,” Group CEO Dominic Burke said.