Lloyds TSB Insurance latest company to outline flood loses
Lloyds TSB this morning said the profit before tax from its general insurance operations decreased by £55m, to £59 million, as a result of a £57m increase in weather related claims. The bank said £45m was related to severe flooding in the UK in June. Net operating income increased by 1 per cent whilst costs also increased by 1 per cent.
Lloyds TSB added its sales performance had been robust with 10 per cent growth in new business gross written premiums.
"Home insurance sales through the UK retail bank continue to perform well with 10
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