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L&G GI premium sales up 9%

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  • 03/05/2012
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L&G GI premium sales up 9%
Legal & General reported a 9% rise in sales of general insurance at £36m, against £33m in Q1 last year.

Gross premiums increased by 17% to £83m, against £71m in Q1 last year, with 21% growth in the broker
channel and 25% growth in the direct channel.

Roughly half the sales were family or business protection with the remainder linked to mortgages.

L&G said: “We also continue to benefit from market consolidation and a strong proposition based on automated underwriting, which provides administration and underwriting cost efficiencies.”

Group protection achieved Q1 new business APE of £12m (Q1 2011: £15m).

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