Insurance premiums through the roof

INSURANCE costs are soaring as we all pay for the 11 September attacks. Premiums for power and chemical plants have doubled or trebled. Offices are paying up to 30% more, said broker Jardine Lloyd Thompson. Rises will continue for another two years.

'It was the largest catastrophe in history, potentially costing $50bn,' said chief executive Steve McGill. 'I'm afraid most customers will see a repricing.'

Jardine's broking and pension administration operations are growing fast. They lifted 2001 sales 22% to £350m, pre-tax profits 18% to £84.3m and dividends 10% to 16p.

Jardine has 'no plans' to change its final-salary pension scheme, though it has a modest deficit.

Floated in 1987 at £40m, the group is now worth £1.2bn. McGill said: 'We expect to continue double-digit profit growth.'