JLT says its risk and insurance business has delivered a resilient performance since the start of July, despite pricing pressures and headwinds caused by economic uncertainty.

“The trading environment is anticipated to remain challenging for the remainder of the year,” the London-listed insurance and reinsurance broker says in a statement. “Despite these conditions, we continue to invest across the group to drive future growth, improve margins and win market share.”

In the specialty division aviation and construction performed well from July 1 to November 7, while energy and marine reflected depressed commodity prices and reduced activity in those sectors.

“The new business pipeline across specialty was strong, with several significant client wins recorded in the period,” the company says.

JLT Re showed strength in the US and Asia regions, and the business remains on course to increase its operating margin to 20% this year.

“Across the other risk and insurance businesses, including Latin America, Asia, and Australia and New Zealand, performance remained steady in the period.”

The group’s employee benefits business reported good growth, with a “particularly strong” performance in Australia and New Zealand.

JLT says the overall group remains well funded and its financial position, including cashflow, continues to be strong.