July 26, 2018 / 6:34 AM / 20 days ago

Broker JLT's first-half profit rises 10 pct, retail rates rise

July 26 (Reuters) - Insurance and reinsurance broker Jardine Lloyd Thompson reported a 10 percent rise in first-half underlying pretax profit, and said rates increased “substantially” in some parts of its retail business.

The company, which advises mainly on risk management and employee benefits insurance, said underlying pretax profit rose to 108.8 million pounds ($143.6 million) in the six months ended June from 99.2 million pounds a year earlier.

Separately, Lloyd’s of London insurer Lancashire reported a rise in first-half pretax profit to $74.9 million from $66.7 million.

Lancashire said some of its competitors were exiting unprofitable lines of business and Lloyd’s was beginning to take action on under-performing syndicates and lines of business.

$1 = 0.7576 pounds Reporting by Noor Zainab Hussain in Bengaluru Editing by Saumyadeb Chakrabarty

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