JLT looks to Brazilian World Cup for growth

INSURANCE broker Jardine Lloyd Thompson hopes to continue its strong growth by insuring construction projects associated with the forthcoming football World Cup in Brazil.

Chief executive Dominic Burke yesterday told City A.M. that his company is well placed to benefit from booming developing markets such as Latin America.

“We’re aligning our speciality focus with what is the big driver of the economy in these regions – infrastructure spending,” he said.

“In Columbia there is a construction programme worth $60bn (£39.6bn) and we would expect to be at the heart of that. In Brazil there is substantial investment associated with the World Cup.”

Burke was speaking as the company unveiled a 17 per cent rise in pre-tax profits to £156.8m for 2012. This was boosted by a hefty 22 per cent organic growth in revenues from Latin America.

“We’re powering ahead, creating jobs and building our business in London. All off the back of the demand from emerging markets,” he added.

However several brokers reacted to yesterday’s results by cutting their rating on the stock to “sell” following recent share price gains.