Advertisement
Singapore markets open in 4 hours 5 minutes

  • Straits Times Index

    3,287.75
    -5.38 (-0.16%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Bitcoin USD

    64,853.64
    +807.62 (+1.26%)
     

  • CMC Crypto 200

    1,398.82
    +16.25 (+1.18%)
     

  • FTSE 100

    8,078.86
    +38.48 (+0.48%)
     

  • Gold

    2,344.10
    +5.70 (+0.24%)
     

  • Crude Oil

    83.76
    +0.95 (+1.15%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • FTSE Bursa Malaysia

    1,569.25
    -2.23 (-0.14%)
     

  • Jakarta Composite Index

    7,155.29
    -7,174.53 (-50.07%)
     

  • PSE Index

    6,574.88
    +2.13 (+0.03%)
     

Insurance broker JLT sees exceptional costs of 34 million pounds in 2016

Reuters

LONDON (Reuters) - Insurance and reinsurance broker Jardine Lloyd Thompson Group Plc (JLT.L) said it anticipated exceptional charges of 34 million pounds in 2016 for litigation expenses and restructuring.

The company, which advises mainly on risk management and employee benefits insurance, said it was on track to achieve full-year business and financial objectives, despite headwinds which were expected to bite through the period.

JLT pointed to challenges including insurance and reinsurance rating pressure, slowing economic growth and weak energy and commodity prices.

The company said exceptional costs in the year would include 22 million pounds for a concluded litigation with Willis and 12 million pounds for the cost of restructuring its UK employee benefits business.

(Reporting by Noor Zainab Hussain, editing by Sinead Cruise)