UK-based global broker Jardine Lloyd Thompson (JLT) has recorded a £20 million ($32 million) rise in after-tax profit for 2010 to £90.7 million ($145.5 million).

Total revenue increased by 21% to £746.3 million ($1.19 billion), with CEO Dominic Burke attributing 7% of this to organic growth and the rest to the effect of recent acquisitions.

JLT’s retail business grew 23%, but the star performers were the group’s operations in Latin America (where revenue rose 44%) and Asia (up 26%).

By contrast, the group’s European arm achieved growth of only 1%.

Commissions and fees brought in more than £740 million ($1.187 billion).

Mr Burke told the group’s profit announcement in London last week that his major competitors are returning to commission practices which could result in a regulatory backlash, and JLT would support any move to an industry-wide fee-based system.

He attributes the group’s improved annual result to a “clear focus on clients, coupled with the benefits of the investments we are making in leading industry professionals, systems and acquisitions”.

“We will continue to make financial progress in 2011, building on the strong momentum developed in 2010.”

An interview with Mr Burke will feature in the April edition of Insurance News (the magazine).