GWP flat at L&G in 2014
Provider’s general insurance operating profit drops 14.5%.
Legal & General (L&G) has reported £377m of gross written premiums for 2014, in line with the £375m achieved in 2013.
The provider noted that despite the flat figures, direct to consumer premiums increased by 29% to £88m (2013: £68m).
Operating profit in the insurance unit dropped 14.5% from £69m in 2013 to £59m last year.
The insurer reported a combined operating ratio of 87% (2013: 84%) and highlighted that it had been hit by a £12m impact from bad weather at the start of the year.
Profit
The
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