Insurance Post

Storms cost L&G £15m as GI operating profit drops

Nigel Wilson of Legal & General

Legal & General paid £15m of claims related to the December 2015 storms as its general insurance operating profit reduced to £51m (£59m) for the year ended 31 December 2015.

The GI combined operating ratio was 89% which was a deterioration on the 2014 result of 87%. Gross written premiums in the GI business dropped to £337m from £377m in 2014.

The insurance division

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