And also in the financial news this week ...
L&G profit doubles
Legal & General’s UK first-half general insurance business operating profit has more than doubled to £14m from £6m last year. Division managing director Peter Graham attributed the rise to improved underwriting and claims management. He said the company was planning to expand its aggregator presence.
£195m profit at Lloyds
Profit before tax and fair value unwind at Lloyds Banking Group’s general insurance group increased 5% to £195m in the first half of 2010 from £186m last year. The company took a £70m charge related to its exit from PPI business.