Chief executive: Dominic Burke
Brokerage: £866.6m
Management
The power duo at JLT – chief executive Dominic Burke and deputy chief Mark Drummond Brady – remain firmly in place. But there has been some reshuffling further down the ranks.
Group commercial director James Twining left in April and has not been replaced. EMEA chief executive Martin Hiller has retired.
Paul Williams stepped down as managing director of JLT’s UK-focused MGA Thistle in April last year, shortly after JLT said it would merge Thistle into its JLT Specialty broking division.
Strategy
JLT is usually a strong financial performer, but it suffered a setback in 2015, when troubles at its employee benefits division caused its underlying profit before tax to drop 7%.
The subsequent restructuring of the employee benefits division, and the £22m the company paid to rival broking group Willis to settle a legal battle over staff poaching means the company will face one-off costs of £34m in 2016.
Despite this, it continued to outpace its rivals on organic growth. The 6% uplift it reported in 2015 easily beat the competition.
Future success is by no means assured in today’s tough market. In his company’s 2015 annual report, Burke gave a grim outlook for rates in the insurance and reinsurance markets, and noted that brokers were also under pressure from macroeconomic challenges such as an economic slowdown in emerging markets, where JLT has been actively involved.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet