Lloyds Banking Group insurance profit hit by weather claims in H1 2016
Lloyds Banking Group this morning reported that its general insurance business saw a 12.5% drop in general insurance ‘underlying profit’ for the first half of 2016 after reporting £168m in income (H1 2015: £192m).
Overall gross written premium fell 1% to £555m (H1 2015 £561m). It combined operating ratio worsened to 89% (H1 2015: 73%).
In a statement the bank said its income growth had been "offset by higher
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