Jardine Lloyd Thompson (JLT) says it remains on track to meet its financial forecasts for this year.

At its AGM last week the company gave a market update on the first four months of the year, describing the period as “positive” and “in line with expectations”.

It poured cold water on the prospect of an impending hard market, saying that rates continue to be “competitive across most sectors”.

But the company noted “some stabilisation of rates, as well as evidence of hardening in respect of certain catastrophe-related risks”.

JLT’s Latin American, Asian and reinsurance businesses continue to make a strong contribution and the company says it is achieving “encouraging” organic growth across its insurance business.