DOCSLIB.ORG

JLT Annual Report 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
JLT Annual Report 2017 GLOBAL SPECIALISTS Annual Report 2017 FRONT COVER JLT provides services to two of the top four world’s largest communications network manufacturers. CONTENTS 2 Global Specialists STRATEGIC REPORT 4 Financial Highlights This section contains information comprising 5 Where we Operate the Company's Strategic Report. It includes 6 Our Mission, Strategy & Values an introduction to JLT with a review of 2017, 7 Our Colleagues, Clients and Culture including performance highlights, information 8 Our Businesses at a Glance 10 JLT International Network on our colleagues, our culture and our mis- 11 Chairman’s Statement sion, strategy and values. It also includes the 14 Chief Executive’s Review Chairman's Statement, Chief Executive’s and 18 Market Factors impacting JLT Finance Director’s Reviews as well as details 21 Our Business Model of our markets, business model, strategic 22 Reviewing & Delivering our Strategy progress, operations and key risks. 25 Key Performance Indicators 26 Group Executive Committee 27 Review of Operations 36 Finance Director’s Review 41 Risk Management Report 47 Corporate Responsibility 57 Corporate Governance Report CORPORATE 67 Audit & Risk Committee Report GOVERNANCE 75 Nominations Committee Report 78 Directors’ Remuneration Report This section includes a review of our corpo- 91 Directors’ Report rate governance and summaries of the work of our Board and its Committees. 100 Independent Auditors’ Report FINANCIAL STATEMENTS 107 Consolidated Income Statement This section includes the Group and Company 108 Consolidated Statement of Comprehensive Income financial statements and related notes. 109 Consolidated Balance Sheet 110 Consolidated Statement of Changes in Equity 111 Consolidated Statement of Cash Flows 112 Significant Accounting Policies 118 Notes to the Financial Statements 170 Company Financial Statements 177 Group Five Year Review ADVISERS & 178 Advisers & Shareholder Information SHAREHOLDER 179 Principal JLT Offices 181 Corporate Sponsorship INFORMATION This section includes the Group five year review, shareholder information and information regarding the Group’s advisers and principal offices. Jardine Lloyd Thompson Group plc Annual Report 2017 1 STRATEGIC REPORT STRATEGIC CORPORATE GOVERNANCE CORPORATE FINANCIAL STATEMENTS STRATEGIC REPORT 2 Global Specialists 11 Chairman’s Statement SHAREHOLDER INFORMATION 4 Financial Highlights 14 Chief Executive’s Review 5 Where we Operate 18 Market Factors impacting JLT 6 Our Mission, Strategy & Values 21 Our Business Model 7 Our Colleagues, Clients and Culture 22 Reviewing & Delivering our Strategy 8 Our Businesses at a Glance 25 Key Performance Indicators 10 JLT International Network 26 Group Executive Committee 27 Review of Operations 36 Finance Director’s Review 41 Risk Management Report 47 Corporate Responsibility 2 STRATEGIC REPORT GLOBAL SPECIALISTS Focusing and growing in specialist areas where we offer distinctive products, services and independent choice, such as: £ 100bn CONSTRUCTION JLT's London construction team manages the insurance requirements for projects globally with a value in excess of £100bn 40% AEROSPACE Representing 40% of the world's airline operators with 10 or more aircraft in service UK's No.1 EMPLOYEE BENEFITS JLT is the UK's largest administrator of private sector pensions Jardine Lloyd Thompson Group plc Annual Report 2017 3 STRATEGIC REPORT STRATEGIC 60% SPECIAL RISKS GOVERNANCE CORPORATE JLT has been broker to over 60% of the world's biggest sporting events over the last decade 50% FINANCIAL STATEMENTS REAL ESTATE Broker to more than 50% of all commercial properties in the City of London 30% SHAREHOLDER INFORMATION ENERGY JLT handles in excess of 30% of the world's mobile drilling rig fleet 4 STRATEGIC REPORT FINANCIAL HIGHLIGHTS We are pleased to present a set of results that reflect substantial financial progress. £m 2017 2016 Change Pence per share 2017 2016 Change Total revenue 1,386.0 1,261.3 10% Underlying diluted EPS* 58.5p 51.4p 14% Underlying trading profit* 213.7 193.7 10% Reported diluted EPS 54.7p 37.8p 45% Underlying profit before tax* 191.5 172.6 11% Total dividend per share 34.0p 32.2p 6% Reported profit before tax 181.6 134.9 35% * Underlying results exclude exceptional items. See notes 1 and 3 of the Financial Statements on pages 118 and 122 for details of exceptional items. SEGMENTAL BREAKDOWN 2017 Turnover by Division Total Revenue (£m) 1,386.0 1,261.3 1,155.1 + % Employee Benefits 10 £320.2m 2017 Growth Rate 23% £1,378.6m 2015 2016 2017 Risk & Insurance £1,058.4m Underlying Profit Before Tax* (£m) 77% 191.5 170.1 172.6 +11% 2017 Turnover by Location of Client 2017 Growth Rate 2015 2016 2017 Rest of the World 3% Europe 8% United Kingdom 26% Underlying Trading Profit* Australia & (£m) New Zealand 13% 213.7 187.5 193.7 £1,378.6m +10% Asia 16% 2017 Growth Rate Americas 34% 2015 2016 2017 Turnover = Revenue excluding investment income Underlying Diluted EPS* (Pence) 58.5 52.2 51.4 +14% 2017 Growth Rate 2015 2016 2017 Jardine Lloyd Thompson Group plc Annual Report 2017 5 WHERE WE OPERATE STRATEGIC REPORT STRATEGIC JLT is a global organisation of specialists and one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. We own offices in over 40 territories with more than 10,000 colleagues. Supported by the JLT International Network, we service clients in over 135 countries. Our collaborative approach enables us to share knowledge, solve problems and deliver the best solutions for our clients. We have the freedom to take on new challenges, think creatively and capture opportunities that others may not. We always aim to do what is right for our clients, our colleagues, our trading partners GOVERNANCE CORPORATE and our shareholders. Owned locations Argentina Macau Australia Malaysia Bahrain Myanmar Barbados Netherlands Belgium New Zealand 40+ 10,000+ 135+ TERRITORIES EMPLOYEES COUNTRIES** Bermuda Norway Brazil Peru Canada Philippines Chile Singapore China South Africa Colombia South Korea Denmark Sweden Finland Switzerland FINANCIAL STATEMENTS France Taiwan Germany Thailand Guernsey Turkey Hong Kong UAE (Dubai) India UK Indonesia USA Ireland Vietnam Japan Associates Austria/Central & Eastern Europe France India Italy SHAREHOLDER INFORMATION Malta Mexico* Spain * The Group has agreed the sale of its holding in its associate in Mexico, which is expected to complete in early 2018. ** See page 10 for more detail on the JLT International Network. 6 STRATEGIC REPORT OUR MISSION, STRATEGY & VALUES OUR MISSION To become the leading global specialist risk adviser and broker. OUR STRATEGY Our strategy balances the interests of our four key stakeholders: our clients, our colleagues, our trading partners and our shareholders. There are four pillars to our strategy: CULTURE SPECIALIST COORDINATION INTERNATIONAL Living a distinctive, Focusing on growing in Ensuring global coordination Continuing to develop entrepreneurial and client- specialist areas where we across divisions, regions and JLT's International Network focused culture that attracts, have deep knowledge and industry practices to provide to ensure that we have the develops and retains the experience; understanding a seamless service to clients. right representation in the best experts. of the risks involved; first rate right locations. transactional capability; and market standing, contacts and reputation. OUR VALUES COLLABORATION AGILITY RIGOUR We recognise that our people We think fast, move swiftly and We work with integrity and discipline drive our success. act decisively. and stand up for what we believe in. Our people work together as Our entrepreneurial drive gives us the Our work is thorough and our solutions ‘One JLT’ to share knowledge, freedom to take on new challenges, are robust, because it matters to us to do solve problems and deliver the think creatively and capture what is right for our clients, our colleagues, best solutions for our clients. opportunities that others may not. our trading partners and our shareholders. Jardine Lloyd Thompson Group plc Annual Report 2017 7 OUR COLLEAGUES, CLIENTS & CULTURE REPORT STRATEGIC Our colleagues are the reason for JLT's success. We collaborate, take personal accountability and are recognised and rewarded for our efforts. OUR COLLEAGUES ES We believe that our people are the best in the industry. We attract U OU G R A and retain specialists who want to work with the leading global LE C L L O IE C CLIENT FIRST N specialist risk adviser and broker. We invest in our colleagues GOVERNANCE CORPORATE T R S U by offering a comprehensive range of learning and development O INDEPENDENT ANALYTICAL opportunities that stretch far beyond mandatory training courses. OUR During the year, we rolled out our Growing Every Day EXPERT INNOVATIVE CULTURE initiative globally, providing training to managers to help them support employees with feedback and a greater focus S O R on career development. E U N R ENTREPRENEURIAL T S R H A 2017 also saw the launch of the JLT University, which aims to be A P R COLLABORATIVE E G H IN the single point of entry for all learning activity across the Group. O D LD RA ER R T The JLT University provides access to technical and soft skills S OU training in a consistent and accessible way globally. We continue to focus on leadership development to prepare OUR CLIENTS our future leaders across the business. Our clients value our specialists who solve their complex risk FINANCIAL STATEMENTS challenges with creativity and collaboration. We are 'client-first' INTERNATIONAL SENIOR MANAGEMENT and put our clients at the heart of everything we do. We are not PROGRAMME all things to all people. We understand that success requires In 2017, JLT once again ran the International Senior focus and trade-offs, and when specialty and expertise are Management Programme (ISMP) for some of our most promising aligned we can achieve unparalleled results for our clients. leaders drawn from across the Group. Its purpose was to build world-class leadership capabilities, deepen people’s OUR CULTURE understanding of the JLT Group, promote greater collaboration, Our core culture is about collaborating to serve clients.
Load more

Recommended publications
  • JLT – a Strong Foundation for Growth Growing Presence in China
    2011 vol.1 Thistle The Magazine of Jardine Matheson Group Managing Director Discusses Further Opportunities in Beijing > page 3 Midnight Gun Heralds New Year > page 5 Gammon Named Leading Graduate Employer > page 21 JLT – A Strong Foundation for Growth Growing Presence in China As we enter the Chinese New Year of the Rabbit, our attention has been drawn particularly to the Group’s existing businesses in mainland China and the potential for further growth there. On recent visits to Beijing, Chongqing and Guangzhou, I and my senior management colleagues, have been impressed by what we have seen and with the long-term plans for future development in these areas. I am confident that the Group’s long-established relationships with mainland China place it in a good position to make the most of new opportunities as they arise. Jardine Lloyd Thompson (JLT), which can trace its origins back to Canton in 1836, is a good example of a Group business focused on expansion in China through organic growth and acquisitions. As our feature on pages 14-19 reflects, JLT is also centred on developing its specialist businesses of risk and employee benefits across its global network. Anthony Nightingale At the Centre 2 Group Managing Director Discusses Further Opportunities in Beijing Asia Pacific Regional Board Meeting Held in Indonesia MINDSET and Jardine Ambassadors Programmes 3 Launched in Singapore … Leadership 8 Hongkong Land Celebrates Completion of One Central Macau Marina Bay Link Mall is in Business Mandarin Oriental to Open in Shanghai 8 JOS Acquisition
    [Show full text]
  • MAKING a DIFFERENCE in the MOMENTS THAT MATTER 2020 Annual Report Risk & Insurance Services Consulting
    MAKING A DIFFERENCE IN THE MOMENTS THAT MATTER 2020 Annual Report Risk & Insurance Services Consulting Marsh Guy Carpenter Mercer Oliver Wyman Insurance Broking Reinsurance Health, Wealth Strategy, Economic & Risk Management & Capital Strategies & Career Consulting & Brand Consulting We are 76,000 colleagues in four global businesses united by a common purpose—to make a difference in the moments that matter. Three commitments unite us as we strive to live our purpose: SUCCEEDING TOGETHER. We are in business to expand what’s possible for our clients and each other. ACCELERATING IMPACT. We embrace change and create enduring client value. ADVANCING GOOD. We strive to serve the greater good. We work with our clients to enable enterprise around the world and secure better futures for all. TO OUR SHAREHOLDERS, COLLEAGUES AND CLIENTS, 2020 was a year when every moment mattered. Around the world, no organization was unaffected or unchanged as we all navigated the crisis of a global pandemic, a global economic crisis, another devastating year in a gathering climate crisis, and an overdue reckoning with race, equity and social justice. No one could plan for such a year, but looking back, our company was ready. 2 | Marsh McLennan 2020 Annual Report As we found smarter ways, every day, to accelerate impact for our clients, we did the same for our communities. From fundraising for medical workers, to mask-making, to one colleague who volunteered at night as an ambulance responder, we stood up for our communities when they needed it most. And we didn’t forget each other. Across our company, groups of supportive colleagues coalesced to help one another balance heightened professional and personal demands, organizing everything from online yoga 2020 was a crucible that brought out the best in classes to children’s reading programs.
    [Show full text]
  • 2018 Annual Report
    JARDINE MATHESON MATHESON JARDINE ANNUAL REPORT 2018 JARDINE MATHESON ANNUAL REPORT 2018 Jardine Matheson is a diversified Asian-based group with unsurpassed experience in the region, having been founded in China in 1832. We comprise a broad portfolio of market-leading businesses, which represent a combination of cash generating activities and long-term property assets and are closely aligned to the increasingly prosperous consumers of the region. Contents Introduction 1 Financial Statements 28 Highlights 2 Independent Auditors’ Report 122 Chairman’s Statement 4 Five Year Summary 130 Jardine Matheson Group Businesses at a Glance 7 Responsibility Statement 131 Business Review 8 Corporate Governance 132 People and the Community 20 Principal Risks and Uncertainties 138 Financial Review 22 Shareholder Information 139 Directors’ Profiles 27 Group Offices 140 Where we operate Our operations Our philosophy We operate principally in Greater Across the Group, our 469,000 Principled leadership, long-term China and Southeast Asia, where employees work in a wide range perspective, innovative thinking and our subsidiaries and affiliates of businesses in major sectors a commitment to mutual growth that can leverage and tap our vast including motor vehicles and related inspires us. They also underpin our experience, expertise, networks, operations, property investment businesses which provide products, and long-standing relationships and development, food retailing, services, and experiences that impact in the region. Our goal is to help home furnishings, engineering and the lives of many millions every day. Group companies achieve construction, transport services, These values also apply in our sustainable growth over the insurance broking, restaurants, workspaces, where we strive to long term by providing financial luxury hotels, financial services, provide positive, safe working and other resources.
    [Show full text]
  • 175 Years of Looking to the Future
    175 Years of Looking to The Future of Looking 175 Years C M Y K Merchant Adventurers 5 Great Foresight and Market Knowledge 9 Independent Spirit 13 Courageous and Determined 17 Further Transformation and Innovation... 23 Calculated Risk Takers 27 Looking Ahead 31 A Market Leader Today 33 Timeline 38 Contents An Enterprising Spirit 175 years ago, William Jardine and James Matheson formed a trading partnership that was to become one of the most successful, long lasting, diversified enterprises in Asia. The success of Jardine Matheson has been due in no small part to its unique character, which to this day clearly reflects many of the personal traits of the founders. Not only did the two founding Scotsmen, one highlander and one lowlander, instil an enterprising spirit into their newly created trading venture in 1832, but also qualities such as a strong work ethic, an independent spirit, financial prudence, business foresight, determination and the understanding of the need to build strong relationships in business. Over the years, these qualities have helped those working for Jardines overcome many challenges and consolidate its position in Asia. There has been a constant evolution in the nature of the business interests of Jardine Matheson, or ‘the Firm’ as it has been affectionately known for most of its existence. Its business activities have kept pace with the times during its long history as new opportunities were sought when the profitability of older ventures waned. Today, Jardines’ businesses are at the forefront of their chosen markets. They include property investment and development, luxury hotels, retail, motor vehicles, financial services and insurance, engineering and construction, agribusiness, mining, restaurants and IT services.
    [Show full text]
  • Jardine Lloyd Thompson Group Plc Preliminary Results for the Year Ended 31St December 2015 (Unaudited)
    To: Business Editor 1st March 2016 For immediate release Jardine Lloyd Thompson Group plc Preliminary Results for the Year Ended 31st December 2015 (Unaudited) The following announcement was issued today by the Company’s 42%-owned associate, Jardine Lloyd Thompson Group plc. For further information please contact: Brunswick Group Tom Burns +44 20 7404 5959 1 MARCH 2016 Jardine Lloyd Thompson Group plc PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015 (UNAUDITED) Jardine Lloyd Thompson Group plc (“JLT” or “the Group”) announces its preliminary results for the year ended 31 December 2015. In 2015, the Group delivered a resilient financial performance that reflected the business’s sustained overall momentum despite the challenging trading environment. FINANCIAL HIGHLIGHTS • Revenue growth of 5% to £1,155.1m • Organic revenue growth of 2% • Strong 5% organic revenue growth in Risk & Insurance • Organic revenue declined by 6% in Employee Benefits due to specific challenges within UK & Ireland. International Employee Benefits organic revenue growth of 7%. • Underlying profit before tax of £170.1m, down 7%, reflecting planned US investment* • Underlying profit before tax, excluding US investment*, up 3% to £190.6m • Reported profit before tax down 3% to £155.0m • Underlying profit margin down 160bp to 16.2% • Underlying profit margin, excluding US investment*, increased by 10bp to 18.4% • Reported diluted EPS down 2% to 47.0p • Total cash dividend of 30.6p up 6%, reflecting the Board’s confidence in the Group’s underlying trading performance * Net investment in JLT USA in 2015 was £20.5m (2014: £2.7m) OPERATIONAL AND STRATEGIC HIGHLIGHTS • Established JLT Specialty as a true powerhouse following its successful merger with Lloyd & Partners.
    [Show full text]
  • Political Risk Insurance: Protecting Business Investments Along the Belt & Road
    POLITICAL RISK INSURANCE: PROTECTING BUSINESS INVESTMENTS ALONG THE BELT & ROAD JARDINE LLOYD THOMPSON LIMITED 5 June 2018 AGENDA PROTECTING BUSINESS INVESTMENTS ALONG THE BELT & ROAD • About JLT • Belt & Road Initiative (“BRI”) Overview • Business Opportunities • Underlying Risks • Why purchase Credit & Political Risk Insurance • Types of Insurance Policies • Key Countries & Sectors • Insurer’s Risk Perspective • Claims in APAC JARDINE LLOYD THOMPSON LIMITED 2 THE JARDINE MATHESON GROUP JLT is an Associate Company of Jardine Matheson Group, an Asia-based conglomerate with a broad portfolio of market-leading businesses in engineering, construction, transport services, motor trading, property, retailing, restaurants and hotels. The Jardine Matheson Group also includes Jardine Pacific and Jardine Strategic, which are holding companies. JLT is a leading specialty insurance broker listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. JARDINE LLOYD THOMPSON LIMITED 3 ABOUT JARDINE LLOYD THOMPSON Market Expertise • We are a market-leading Credit, Political & Security Risks (CPS) team. Market Track-Record • Founded in 1986, the CPS team has a longstanding and proven track record both managing transactions and in claims handling. Market Leverage • We handle insurance capacity of approx. USD 80bn at any one time. Global Reach • 180 specialists in 16 international hubs of expertise. JARDINE LLOYD THOMPSON LIMITED 4 BELT & ROAD INITIATIVE (“BRI”) OVERVIEW • Silk Road Economic Belt • Maritime Silk Road • USD 4 trillion initiative • 65 countries • Asia, Europe, Africa and Middle East JARDINE LLOYD THOMPSON LIMITED 5 BELT & ROAD INITIATIVE MAP JARDINE LLOYD THOMPSON LIMITED 6 7 BUSINESS OPPORTUNITIES Key Business Opportunities Investment Opportunities • Infrastructure Development • World class infrastructure/services companies • Mergers and Acquisitions • Property development, telecoms, transportation, port services, aviation etc.
    [Show full text]
  • Jardine Matheson Holdings Limited Is Incorporated in Bermuda and Has a Premium Listing on the London Stock Exchange, with Secondary Listings in Bermuda and Singapore
    Jardine Matheson Annual Report 2011 2011 Jardine Matheson Annual Report 2011 www.jardines.com Founded as a trading company in China in 1832, Jardine Contents Matheson is today a diversified business group focused Highlights 1 principally on Asia. Its businesses comprise a combination of Chairman’s Statement 2 cash generating activities and long-term property assets. Group Structure 4 Managing Director’s Review 5 The Group’s interests include Jardine Pacific, Jardine People and the Community 22 Motors, Jardine Lloyd Thompson, Hongkong Land, Dairy Financial Review 24 Farm, Mandarin Oriental, Jardine Cycle & Carriage and Directors’ Profiles 27 Astra International. These companies are leaders in the Financial Statements 28 fields of engineering and construction, transport services, Independent Auditors’ Report 94 insurance broking, property investment and development, Five Year Summary 95 retailing, restaurants, luxury hotels, motor vehicles and Responsibility Statement 96 related activities, financial services, heavy equipment, mining Corporate Governance 97 and agribusiness. The Group also has a minority investment in Principal Risks and Uncertainties 102 Rothschilds Continuation, the global financial advisory group. Shareholder Information 103 Group Offices 104 Jardine Matheson Holdings Limited is incorporated in Bermuda and has a premium listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. Jardine Matheson Limited operates from Hong Kong and provides management services to Group companies. Jardine Matheson
    [Show full text]
  • JLT Annual Report 2016
    Jardine Lloyd Thompson Group plc Lloyd Thompson Group Jardine Annual Report 2016 GLOBAL SPECIALISTS Annual Report 2016 CORPORATE SPONSORSHIP As specialists in what we do, we partner with specialists who deliver winning results. This is why we are proud to partner with professional British cycling team JLT Condor, triple Olympic gold-medal winning cyclist Ed Clancy OBE, the British Bobsleigh and Skeleton Association, some of Britain’s leading racecourses and the Australia Football League (AFL). JLT CONDOR JLT Condor is the UK’s longest-standing UCI Continental cycling team and they rounded off a very successful 2016 race season by adding the Revolutions Series indoor track title in December to the UK national Tour Series, Motorpoint Grand Prix Series, London Nocturne and National Circuit Race Championships. The team also raced across Asia, Australia and northern Europe and will look to continue to dominate in races around the globe in 2017. ED CLANCY OBE 2016 was an outstanding year for JLT-sponsored cyclist Ed Clancy who was crowned Olympic track cycling champion for the third time in a row, claiming gold in Rio in August. Ed brought his gold medals to the London offices upon his return to the UK to meet JLT clients and staff. Ed was also recognised for his sporting achievements in the 2016 Queen’s New Year Honours List, being awarded an OBE. OFFICIAL PARTNER OF GREAT BRITAIN SKELETON Reigning Olympic Champion and JLT ambassador Lizzy Yarnold, who had taken a season away from competing, returned to racing in the 2016-17 World Cup season with an immediate return to form.
    [Show full text]
  • Annual Report 2011
    AR Cover 2011 final tp_A&R design 3 15/03/2012 21:11 Page 1 Jardine Lloyd Thompson Group plc Group Thompson Lloyd Jardine annual report 2011 6 Crutched Friars London eC3n 2ph 2011 Report Annual Tel: +44 (0)20 7528 4444 Fax: +44 (0)20 7528 4185 www.jltgroup.com Company registration no: 1679424 distinctive. Choice. Jardine LLoyd Thompson Group plc Jardine LLoyd Thompson Group plc AR Cover 2011 final tp_A&R design 3 16/03/2012 13:35 Page 2 Contents Principal Offices Overview Notes to the Financial Statements Head office Brazil Indonesia 1. Alternative income statement 61 JLT do Brasil Corretagem de Seguros PT Jardine Lloyd Thompson Financial Highlights 1 UK 2. Segment information 62 Ltda +6221 2995 2500 Who We Are/Where We Operate 2 Jardine Lloyd Thompson Group plc 3. Operating profit 65 +55 11 3156 3900 What We Do 3 +44 20 7528 4444 Japan 4. Investment income 66 JLT Re Brasil Our Mission and Strategy 4 JLT Risk Solutions Japan Limited 5. Finance income and costs 66 + 55 21 2220 2970 +813 6730 3500 Our Structure 5 Europe 6. Employee information 67 Segmental Breakdown 5 France Canada South Korea 7. Services provided by the JLTRS Energy (France) SA Jardine Lloyd Thompson Canada Inc Jardine Lloyd Thompson Korea Limited Group's auditor and network firms 73 +33 1 44 20 99 99 +1 403 264 8600 +82 2 397 8100 Business Review 8. Income tax expense 73 Ireland Chile Chairman’s Statement 6 9. Earnings per share 74 Macau JLT Insurance Brokers Ireland Limited Orbital-JLT Corredores de Seguros Chief Executive’s Review 8 10.
    [Show full text]
  • A Promising Formula After Its First 10 Months, the UK ILS Market Still Has Room to Grow VERMONT CAPTIVE INSURANCE OVER , CAPTIVES LICENSED
    Issue 158 03 October 2018 ILS Insight Mark Helyar discusses an innovative new structure Captive Investments Diana Hardy & TJ Strickland talk investment strategy Asia Pacific The region is showing impressive growth but remains a small player A promising formula After its first 10 months, the UK ILS market still has room to grow VERMONT CAPTIVE INSURANCE OVER , CAPTIVES LICENSED Our reputation protects your reputation. The Gold Standard is more than our promise, it’s what our reputation is built on. It’s our dedication to protecting your business as it navigates the complex captive insurance environment. The result—captives that are sensible, secure, and supported. Connect with us and see why Vermont sets THE GOLD STANDARD. VTC030-18_Captive_Insurance_Times.indd 1 7/23/18 3:43 PM VERMONT CAPTIVE INSURANCE Lead News Story OVER , CAPTIVES LICENSED Marsh & McLennan agrees to acquire JLT Marsh & McLennan Companies (MMC) has agreed to acquire Jardine Lloyd Thompson Group (JLT) in a deal worth $5.6 billion. Our reputation The deal is part of MMC’s strategy to become the preeminent global firm in the areas of risk, strategy, and people. Under the terms of the transaction, which has been approved by the board of directors’ of both companies, MMC will acquire all issued, and to be issued, share capital of JLT. Current protects your holders of common shares will receive cash consideration of £19.15 per share. The total cash consideration equates to $5.6 billion in fully diluted equity value or an enterprise value of $6.4 billion. The transaction will be funded by a combination of cash on hand and proceeds reputation.
    [Show full text]
  • Jardine Matheson Holdings Limited
    Jardine Matheson Annual Report 2013 Founded as a trading company in China in 1832, Jardine Contents Matheson is today a diversified business group focused Highlights 1 principally on Asia. Its businesses comprise a combination of Chairman’s Statement 2 cash generating activities and long-term property assets. Group Structure 4 Managing Director’s Review 5 The Group’s interests include Jardine Pacific, Jardine People and the Community 22 Motors, Jardine Lloyd Thompson, Hongkong Land, Dairy Financial Review 24 Farm, Mandarin Oriental, Jardine Cycle & Carriage and Directors’ Profiles 27 Astra International. These companies are leaders in the Financial Statements 28 fields of engineering and construction, transport services, Independent Auditors’ Report 113 insurance broking, property investment and development, Five Year Summary 114 retailing, restaurants, luxury hotels, motor vehicles and Responsibility Statement 115 related activities, financial services, heavy equipment, mining Corporate Governance 116 and agribusiness. Principal Risks and Uncertainties 122 Shareholder Information 123 Jardine Matheson Holdings Limited is incorporated in Group Offices 124 Bermuda and has a premium listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. Jardine Matheson Limited operates from Hong Kong and provides management services to Group companies. Jardine Matheson Holdings Limited Jardine House Hamilton Bermuda Highlights • Underlying earnings* up 3% • Full-year dividend up 4% • Hongkong Land, Mandarin Oriental and Jardine
    [Show full text]
  • GLOBAL SPECIALISTS Annual Report 2016 CORPORATE SPONSORSHIP
    Jardine Lloyd Thompson Group plc Lloyd Thompson Group Jardine Annual Report 2016 GLOBAL SPECIALISTS Annual Report 2016 CORPORATE SPONSORSHIP As specialists in what we do, we partner with specialists who deliver winning results. This is why we are proud to partner with professional British cycling team JLT Condor, triple Olympic gold-medal winning cyclist Ed Clancy OBE, the British Bobsleigh and Skeleton Association, some of Britain’s leading racecourses and the Australia Football League (AFL). JLT CONDOR JLT Condor is the UK’s longest-standing UCI Continental cycling team and they rounded off a very successful 2016 race season by adding the Revolutions Series indoor track title in December to the UK national Tour Series, Motorpoint Grand Prix Series, London Nocturne and National Circuit Race Championships. The team also raced across Asia, Australia and northern Europe and will look to continue to dominate in races around the globe in 2017. ED CLANCY OBE 2016 was an outstanding year for JLT-sponsored cyclist Ed Clancy who was crowned Olympic track cycling champion for the third time in a row, claiming gold in Rio in August. Ed brought his gold medals to the London offices upon his return to the UK to meet JLT clients and staff. Ed was also recognised for his sporting achievements in the 2016 Queen’s New Year Honours List, being awarded an OBE. OFFICIAL PARTNER OF GREAT BRITAIN SKELETON Reigning Olympic Champion and JLT ambassador Lizzy Yarnold, who had taken a season away from competing, returned to racing in the 2016-17 World Cup season with an immediate return to form.
    [Show full text]