July 29, 2014 / 6:31 AM / in 3 years

Insurance broker JLT's first-half profit rises 15 pct

July 29 (Reuters) - Insurance and reinsurance broker Jardine Lloyd Thompson Group Plc reported a 15 rise in underlying pretax profit but said it was cautious for the rest of the year due to a marked decline in rates and a stronger pound.

Underlying pretax profit rose to 107.4 million pounds ($182.4 million) in the six months ended June 30 from 93.1 million pounds a year earlier, helped by its Towers Watson Re unit.

Total revenue rose 15 percent to 559.6 million pounds.

JLT, which negotiates insurance cover on behalf of corporate clients around the world, bought Towers Watson’s reinsurance brokerage last year for $250 million to expand its footprint in the United States. ($1 = 0.5889 British Pounds) (Reporting by Richa Naidu and Roshni Menon in Bangalore; Editing by Gopakumar Warrier)

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