August 29, 2014 / 8:15 AM / 3 years ago

BRIEF-JLT Group announces expansion of US specialty business

Aug 29 (Reuters) - Jardine Lloyd Thompson Group Plc :

* Announcing significant expansion of US specialty capabilities and merger of JLT Specialty Ltd and Lloyd & Partners Ltd

* Appoints Michael Rice CEO, Pat Donnelly president and deputy CEO of JLT Specialty Insurance Services Inc

* Expansion plan expected to result in net investment of about 50 mln stg during 2015 to 2017

* Expects business to start contributing to profits in 2018, generate accelerated returns thereafter

* Investment to be funded from existing cash reserves, debt facilities Source text for Eikon: Further company coverage:

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