Legal and General slashes combined operating ratio in general insurance by 18 points
The mild winter helped Legal and General (L&G) turn an £8m operating loss last year into a £42m profit in its general insurance arm for 2011.
New premiums grew by 38% to £110m as the company extended its relationships with brokers and grew in the direct space.
“In general insurance, new business premium income grew by 38% to £110m (2010: £80m) as a
result of building our presence in the direct market and continuing to develop key broker relationships,” L&G said in a statement today.
“A combined operating ratio of 88% (2010: 106%) benefited from more benign weather conditions in the UK compared with
the two severe weather events experienced in 2010.”
Highlights
Operating profit £42m (£8m loss: 2010)
Premium income £110m (£80m:2010)
Combined operating ratio 88% (106%:2010)
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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