Legal & General (L&G) is targeting travel and health insurance to achieve its target of over 15% annual growth in its general insurance business.
Ian Viney, L&G's managing director of general insurance, told Insurance Times that brokers would be the focusof the company's growth strategy.
"We are looking to do better in the broker channel, which has seen significant growth. We started from a small base, but household has grown well in excess of 20% a year in broker over the last four years,"
He added: "The challenge for us is that we have been growing at 16%-17% a year and I would like to shift it up a notch."
He said the company is looking to grow organically and that it would be looking to expand its travel insurance book as well as its healthcare business.
"The growth suggests that we are there or thereabouts in terms of price and the broker channel has to be a litmus test because it is a free market."
L&G's general insurance premium income currently stands at around £430m, 80% of which is household.
