British insurance and reinsurance brokers Jardine Lloyd Thompson Group PLC reported a sales increase of 5.1% on Tuesday to SEK 1.45 billion (1.96 billion) for 2018.
The company, which is transferred by Marsh & McLennan Cos . Inc. in a deal that is expected to complete in the spring of this year, said in a statement that it announced preliminary results for 2018 and update of key financial items.
The brokerage increased operating profit by 21% in 2018, reinforced by organic sales growth for all divisions, the company says in the statement.
JLT's organic sales growth was 5% for 2018, with 7% organic growth in global specialty and 7% in UK employee benefits, according to the statement.
Profit before tax amounted to $ 88.1
The company's restructuring provided £ 20.7 million at a cost of £ 28.6 million and is still on its way to providing additional benefits of £ 16.3 million in 2019, and full annual benefits of £ 40 million 2020. The company said.
Full-year operating profit in global specialty increased by 25% to £ 192.7 million, 10% in global reinsurance to £ 45.8 million and 8% in global employee benefits to £ 51.2 million, the statement said.
US Special Revenue increased $ 38.8 million to $ 134.4 million in 2018, while net investment declined to $ 9.9 million and business continues "on track to achieve profit in 2019," the company said.