Financial services group HBOS has announced its insurance profits increased by 15% in 2002.

The group, which sells insurance under household brands such as esure and Intelligent Finance, saw its pre-tax profits rise to £400m last year up from £348m in 2001.

General insurance claims increased to £79m from £68m the year before. Meanwhile its gross written premiums increased to £1.3bn from £1bn the year before.

Chief operating officer Ian Black said household insurance sales were up on the back of improved mortgage sales.

Black said: "We see a good future in the near term through 2003."

The group's total pre-tax profits increased by 22% to £3.062bn.

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