Report & Accounts - JLT

Chief Executive’s Statement7Our focus will be to build upon our areas of strengthand not to seek size or coverage for their own sake.There is real value in the balance of activities in theGroup between our Employee Benefits and Risk &Insurance businesses. Our Employee Benefits businesshas a broad customer base and is recurrent by virtue ofmarket practice, or length of contracts. Our Risk &Insurance operations have many significant businessopportunities. However, these are less predictable as theyrenew annually and earnings can be more sensitive tomarket conditions.Setting out a route map for our development is one of theobjectives of an extensive review of our operations that isalready in progress. This project is not intended to be astatic process. There is no specific completion date priorto which all important management actions are put onice. Where appropriate, we intend to implement actionsimmediately, the merits of which are clearly demonstratedby strategic analysis. We have, for example, announcedour intention to bring together the UK based insurancebroking businesses through the merger of JLT RiskSolutions and Corporate Risks. This will allow us topresent a single brand to existing and prospective clients,to improve the management structure and to ensure thatno opportunities for cost reduction and operationalefficiency are overlooked.These actions exemplify the approach that JLT will take in2006, a combination of thorough analysis and planningwith decisive action.There is a good deal of groundwork to be done and thebenefits will not flow through to the Group results in theshort-term. Our key priority is to ensure we achieve asustained and substantial increase in the value of theCompany. To secure this, we need to enable our staff tofulfil their individual career and financial goals.This objective will be achieved through the long-termsuccess of JLT.JLT today has many strengths but faces many challenges.I am delighted to lead the team as CEO, to set thestrategy and manage the Group. It is a great opportunity,privilege and honour. I share my passion for JLT with mymany colleagues throughout the Group and I embark onthis new journey with enthusiasm and confidence.Our staff are our most important asset and I would liketo thank them for their hard work and dedication.Although we face many challenges in 2006 I am confidentthat together our commitment will ensure that our goalsare achieved.Finally, I would like to thank Ken Carter on behalf of allmy colleagues at JLT both past and present. Ken joinedLloyd Thompson in 1986 and was the driving forcebehind its flotation the following year and the subsequentmerger with JIB Group plc in 1997. In Ken’s 20 yearswith JLT, including a remarkable 17 years as CEO, he hasundoubtedly been the single most important influenceover JLT’s successful development.Dominic BurkeChief Executive21st March 2006Jardine Lloyd Thompson Group plc Annual Report & Accounts 2005