Legal & General (L&G) has posted its results for financial year 2023 (FY23), which shows an increase in gross premium income for both retail protection and group protection.
The provider posted that its retail protection business saw gross premium income increased to £1.512bn, compared to £1.485bn the previous year. This growth was paired with its group protection gross premium income being at £479m, up 12% on the £427m in 2022. Its UK retail protection statistics were accompanied by a reported 18.4% market share, according to the ABI Q3 2023 report. It also reported that a underwriting decision as made at point-of-sale for more that 80% of its customers. The group side saw success with the provider's online quote and apply platform for smaller schemes, w...
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