L&G reports drop in GI profit for 2015
Provider says it lost £15m due to last year's floods.
Legal & General (L&G) has reported an operating profit for its general insurance unit of £51m for 2015, a drop from the £59m achieved in 2014.
The combined operating ratio (COR) for general insurance was 89%, slightly worse than the 87% it achieved last year.
L&G further reported a reduction in gross written premium (GWP) to £337m for general insurance (2014: £377m).
Storms
According to the company, the results were driven by a £15m loss following the three major UK storms in December 2015.
Meanw
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