Lloyds TSB profit - Insurance Age

Insurance Age staff
01 Mar 2007

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Reporting alongside Lloyds TSB Group, Lloyds TSB Insurance revealed a £34m increase in profit before tax to £243m in 2006. Net operating income improved by 6% to £34m, and 7% growth in underwriting income was offset by a reduction in broking commissions. Gross written premiums (GWP) relating to new home insurance sales through Lloyds TSB UK Retail Bank rose by 42% in 2006, while the insurer's GWP for the SME general liability product rose by 133%. In addition, the group's corporate

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