L&G insurance profits increase to £14m for H1 2010
Legal & General’s (L&G) insurance division has reported a rise in operating profit to £14m for H1 2010, compared to £6m for the same period last year.
This figure was made up of £11m household general insurance operating profit (H1 2009: £6) and £3m of other business.
The division reported underwriting results of £9m, with £7m of this made up of household and £2m of other business. The general insurance combined operating ratio stood at 90% (H1 2009: 99%).
Overall, the business as a whole reported a 34% rise in IFRS operating profit to £542m (H1 2009: £404m).
John Pollock, the chief executive for L&G’s risk businesses, said: “The first half of
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