HBOS GI hit for £92m GWP following Paymentshield sale
Halifax Bank of Scotland's 2006 preliminary results revealed its general insurance sales fell 4% to £1 894 gross written premium. Underlying profit before tax for the division increased by 20% to £304m compared with £254m last year.
The downturn in sales were as a result of a 10% and 9% fall in repayment and motor insurance respectively. However, Household sales grew by 11% to £618m GWP and policy numbers increased by 10% to 3.2m
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