L&G GI reveals loss in H1 2018 after Beast from the East hit
Insurer reports £6m operating loss and a COR of 107% as GWP rises to £193m.
Legal & General (L&G) has posted a £6m operating loss in its General Insurance business for the first half of 2018, down from a profit of £15m in H1 2017.
The insurer’s pre-tax loss was £14m in the six month period (H1 2017: £21m) and its combined operating ratio (COR) deteriorated to 107% (H1 2017: 95%).
The business noted that this was largely a result of bad weather in the first quarter of the year and noted that excluding the weather impact its operating profit was £22m and its COR 92%.
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