Lloyds TSB sees GI drop
Lloyds TSB saw its general insurance pre tax profit decrease by £33m, or 4 per cent, to £720m in 2003. This comprised a pre-tax profit of £219m (2002: £198m) from general insurance underwriting and £501m (2002: £555m) from broking activities.
The bank put the underwriting result down to higher home insurance income which increased by 17 per cent. It added claims were £7m higher at £236m than in 2002, but that the overall claims ratio of 42Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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