Insurance Post

Weather claims eat into Lloyds GI COR as income slips by £54m

general insurance director for Lloyds Banking Group Craig Thornton

Lloyds Banking Group’s general insurance business has attributed increased weather claims in the opening two months of the year to a decline in the unit’s combined operating ratio to 80% in the first half of 2014 (H1 2013: 69%).

Insurance claims were up to £175m in the opening six months of the year (H1 2013: £148m), while a £54m fall in GI income for the period was linked to weather claims, along with the run-off of the

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