Paid out £233m in nine months
Lloyds Banking Group’s insurance claims are down 30% for the first nine months of 2013, according to company accounts.
For the nine months ended 30 September 2013 Lloyds paid out £233m in claims, down from £335m for the same period last year. Claims were also down 17% for the three months to 30 September 2013, from £102m for the same period last year.
It marks the continuation of a reduction in claims throughout 2013. General insurance claims reduced by 36% to £148m for H1 2013, down from £233m in H1 2012.
Earlier in the year Lloyds Banking Group’s general insurance business recorded a combined operating ratio of 69% for H1 2013, improving by 11 points since the same period last year.
However, the company’s net written premiums fell by 16% to £401m, from £480m in H1 2012.
The group posted underlying profit of £4,426m in the first nine months of 2013, an increase of 136% on the same period last year.