British brokers Jardine Lloyd Thompson Group has announced a 20% rise in half yearly profits. Pre-tax profit was up $150 million compared to around $126 million last year.

Turnover was up 12% to $582 million and trading profit has increased by 32% to almost $120 million, all caused by the hard market conditions.

JLT announced that the tough market conditions will continue into the next year, demanding innovative broking. Group CEO Steve McGill said that while the new insurance market remains challenging, JLT is clearly benefiting from a flight to quality, as clients turn to the firms that have the resources and capability to deliver innovative insurance and reinsurance products.