British insurance broker Jardine Lloyd Thompson (JLT) is expected to deliver lower profits from its reinsurance business this year because a number of major insurers were passing on less risk thank in 2011.“We have experienced some large primary insurers retaining more risk,” JLT said.In an interim management statement, the broker explained that this factor combined with investments in the business “means that we now expect trading profit in this division to be lower in 2012 than in 2011”.Trading conditions in Europe, which were described as “challenging”, were another bear point.JLT noted that the company has delivered good levels of organic growth, and that overall trading performance between July and October was in line with expectations, helped by strong revenue growth in Latin America and Asia.The company also said it is “well positioned to deliver sustainable growth” and will continue with plans to develop its employee benefits business in 2012.