UK-based JLT Group says its risk and insurance business has performed “robustly” in the past four months, despite a challenging environment.

CEO Dominic Burke makes the comments in the global broker’s interim management statement, covering the period July 1-November 2.

He says the results are pleasing given the weak insurance and reinsurance rating environment and falling capital investment by corporates, particularly in the energy and mining sectors amid declining commodity prices.

JLT anticipates full-year organic revenue growth in the risk and insurance businesses will be in line with historical levels.

“We are confident that these businesses will deliver good levels of organic revenue growth for the full year, with the performance of our emerging-markets operations particularly encouraging,” Mr Burke said.

“Equally pleasing is the momentum in the US, as a result of our ongoing investments.”  

JLT Specialty and JLT Re both performed well, with the former benefitting from a merger with broker Lloyd & Partners.  

“We anticipate both businesses will report full-year trading margins above those of the prior year,” the statement says. “The progress in our US specialty business continues to be encouraging, with good levels of client wins and a strong new business pipeline, and we now expect the net investment spend in this business [this year] to be lower than indicated previously.” 

JLT is pleased with the successful integration of Australian acquisition Recovre, and that business’ recent client acquisitions and improved growth prospects.

Recovre provides customised workplace health, safety and rehabilitation solutions. JLT bought it in March from private equity group Hawkesbridge Capital.