Insurance broker JLT's first-half profit rises 15 pct
July 29 (Reuters) - Insurance and reinsurance broker Jardine Lloyd Thompson Group Plc reported a 15 rise in underlying pretax profit but said it was cautious for the rest of the year due to a marked decline in rates and a stronger pound.
Underlying pretax profit rose to 107.4 million pounds ($182.4 million) in the six months ended June 30 from 93.1 million pounds a year earlier, helped by its Towers Watson Re unit.
Total (NYSE: TOT - news) revenue rose 15 percent to 559.6 million pounds.
JLT, which negotiates insurance cover on behalf of corporate clients around the world, bought Towers Watson's reinsurance brokerage last year for $250 million to expand its footprint in the United States. ($1 = 0.5889 British Pounds) (Reporting by Richa Naidu and Roshni Menon in Bangalore; Editing by Gopakumar Warrier)