2016 | 2015 | Change (%) | |
General Insurance | £113 million | £72 million | 57 |
Life & Pensions | £45 million | £41 million | 10 |
Group | £1 million | £(6) million | 117 |
Operating profit - pre Ogden | £159 million | £107 million | 49 |
Reserve increase due to Ogden rates changes | £(139) million | £nil | n/a |
Operating profit - post Ogden | £20 million | £107 million | (81) |
At a Group level loss before tax of £49 million (2015: £124 million profit) has been adversely impacted by £35 million of operating losses from the Heritage business (2015: £88 million profit).
2016 | 2015 | Change (%) | |
Gross written premiums | £1.58 billion | £1.47 billion | 7 |
Underwriting profit | £70 million | £44 million | 59 |
Investment return | £43 million | £28 million | 54 |
Operating profit - pre Ogden | £113 million | £72 million | 57 |
Reserve increase due to Ogden rate changes | £(139) million | £nil | n/a |
Operating (loss)/profit - post Ogden | £(26) million | £72 million | (136) |
Combined ratio - pre Ogden | 94,1% | 96.1% | |
Combined ratio - post Ogden | 105.8% | 96.1% |
2016 | 2015 | Change (%) | |
Retirement new business sales (PVNBP basis)
Pensions
Annuities
Flexible Guarantee Bonds
Equity Release
|
£1.65 billion
£996 million
£338 million
£217 million
£102 million
|
£1.55 billion
£986 million
£309 million
£194 million
£63 million
|
6
1
9
12
62
|
Protection new business sales (PVNBP basis) | £284 million | £272 million | 4 |
Operating profit | £45 million | £41 million | 10 |