L&G's half-year insurance profits halved after bad weather
The insurer blamed freezing weather and storms, as well as the recent June flooding for slashing profit from £17m in the first half of the previous year.
However, the insurer reported that its gross written premiums (GWP) for general insurance enjoyed a 14% rise to reach £166m (H1 2011: £146m).
L&G's combined operating ratio (COR) was also hit by the poor weather, rising from 93% in the first six months of 2011 to 99% in the comparable period this year.
The insurer said the adverse weather
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Insurer
Podcast
The Insurance Age Podcast: 3 April 2020
Insurance Age commissioning editor, Laurence Eastham, and news editor, Ida Axling, discuss the top stories of the week.
Subscribe to our daily newsletter for all the latest news