Halifax Bank of Scotland (HBOS) General Insurance reported premium income up 12% to £840m for the first half of 2004.
It said pre-tax profit went up 13% compared with the first half of 2003, reaching £239m, allowing for the adjustment for the impact of the commencement of household underwriting from the start of the year.
The bank said sales from household and travel-related insurance increased by 21% on the 2003 figures.
HBOS said strong cross-selling of household products to its mortgage customers had helped boost the results, alongside continued growth in direct sales.
Sales of repayment insurance under the Halifax and third party brands increased by 3% to £447m, it said.
Halifax General Insurance finance director Michael Warren said: “2004 has seen an excellent start to the year for HBOS's general insurance business.
“Sales and profits continue to increase and our product and service portfolio has continued to improve and develop for the benefit of our customers.
“The combination of strong financial performance, customer focus and business development positions HBOS favourably in its aim to become the UK's first choice bank-related insurance business.”
HBOS General Insurance consists of Halifax General Insurance, Halifax Insurance Ireland, St Andrews Group, and Bank of Scotland Commercial Insurance.
