L&G enjoys strong COR improvement
Legal and General (L&G) has revealed that its combined operating ratio for the first half of 2013 improved markedly to 81%, from the 91% recorded for the same period last year.
The insurer's general insurance and other operating profit also jumped to £29m (H1 2012: £9m) while general insurance gross written premiums (GWP) rose 10% to £183m (H1 2012: £166m).
Specifically, for general insurance household, GWP grew to £172m (H1 2012: £156m).
The insurer attributed the GWP increase to "continued growth" from its broker accounts and from direct sales where it claimed it was "now the number one home insurer in direct online sales".
The full L&G group saw operating profit
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