Weather claims cut insurer’s GI cash generation by £3m

Legal & General’s general insurance gross written premium increased 17% to £83m in the first quarter of 2012 (Q1 2011: £71m), the company said in its interim management statement.

The insurer saw 21% premium growth in its broker distribution channel for general insurance and 25% growth in the direct channel.

However, the company also said that operation cash generation from general insurance was down by £3m because of weather related claims.

L&G’s total group cash generation was up 1.6% to £249m (Q1 2011: £245m).

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