London-based Jardine Lloyd Thompson (JLT) is reported to be joining the list of brokerages announcing the end to contingent commission arrangements with insurers.
Contingent commissions accounted for less than 2% of JLT's brokerage revenues of £429m in 2003, the company said.
In a statement JLT said it had fully disclosed incentive commissions since 1998.
It added that since 1997 revenue from such
commissions has not exceeded 2.5% of total group revenues.
The world's four largest brokerages, Marsh & McLennan (MMC), Aon Corp, Willis and Arthur J Gallagher & Co, have already suspended the practice in response to the New York attorney general's lawsuit against MMC.
