Jardine Lloyd Thompson (JLT) has formed a business partnership with utility giant Npower to develop a portfolio of insurance services for its almost five million customers.

Npower, owned by Innogy, intends to launch buildings and contents insurance and payment protection schemes later this month.

Npower financial services manager Phil Taylor said the power generator's entry into the insurance market was a natural extension of its strategy of supplying a range of domestic services to customers.

JLT group posted a pre-tax profit of £69.6m for the year ending December 31, 2000.