Lloyds heralds online and direct growth
Lloyds TSB has reported that its general insurance business saw a 22 per cent growth in profits, supported by improvements to both the claims and combined ratios, in 2005.
Profit before tax, on a comparable basis, increased by 37m pounds to 209m pounds. Operating income, net of claims, increased by 13 per cent compared with cost growth of 4 per cent, the bank added.
In
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