Lloyds TSB GI profits up £63m
Lloyds TSB this morning said that profit before tax from its general insurance operations increased by £63m, to £113m. The bank said this reflected a £57m reduction in claims due to the absence of the severe weather related claims experienced and the continued benefits from ongoing investment in its claims processes.
The bank said net operating income increased by £1m, "reflecting good increases in income from home insurance underwriting, with sales through the branch network generating an increase in new business
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