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JLT expects US trading loss this year

JLT says it has made a positive start to the year, with a trading performance in line with expectations.

It says its US specialty business, formed last year from the merger of JLT Specialty and Lloyd & Partners, will generate revenues of $US50 million ($63.66 million) this year and make a net trading loss of $US35 million ($44.56 million).

Last August JLT said the merger would drive a new phase of growth through significant expansion of its US activities.

Despite a challenging rate environment, the company is confident about revenue growth and is continuing to invest for sustainable earnings growth, according to an interim management statement released on Friday.