Underperforming London-based broker Jardine Lloyd Thompson (JLT) has sold its retail operations in the US for $US85 million ($112 million).

CEO Dominic Burke says the sale is an important step forward in implementing the results of the operational review that was initiated earlier this year.

The retail operations were sold to California-based Alliant, one of the largest insurance distributors in the US.

The JLT group has recorded disappointing results over the past two years, and Mr Burke says the disposal is consistent with the group’s strategy of concentrating on areas of proven business strength.

JLT will continue to operate specialist aviation and wind power insurance businesses and reinsurance operations in the US.