L&G says GI hit by floods and Flood Re levy

Flood

Legal & General reported first half general insurance operating profit fell to £31m from £38m a year earlier.

General insurance combined operating ratio worsened to 85% from 82% in the first half last year, though it was an improvement on the full year 2015 COR of 89%.

Gross written premiums for the GI business fell to £156m in the first half from £164m a year ago.

L&G said first half GI profit was hit by June’s floods, which cost £5m, and the introduction of the annual Flood Re levy of £9m, which added 6 percentage points to the first half COR.

The company said it “maintained pricing discipline in a competitive market” in the first half.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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