JLT has reported a good start to the year, with trading conditions leaving it well placed to grow.

Most classes of reinsurance and specialty lines experienced a moderation or end to price reductions, with rises generally limited to areas that suffered heavy losses last year.

The US specialty business is on course for continued revenue growth while further reducing net investment losses, the broker says.

And the reinsurance business continues to make financial progress.

The group’s global transformation program is expected to achieve savings of £40 million ($72.34 million), with a one-off cost of £45 million ($81.38 million).

JLT says it will continue to invest in the business through acquisitions.