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News - L&G changes gear and pulls out of motor.
(From Post Magazine)
Legal and General has decided to pull out of the motor market after a wholesale review of its general insurance business, a move that will affect 60 employees.
The insurance giant will stop writing new business on the book, which was valued at GBP32m gross written premium in 2006 but is expected to have shrunk to GBP20m at the time of withdrawal on 31 August this year, and will pass on renewals to Equity. Former L&G general insurance head John Castagno has recently joined Equity as managing director, direct broking.
An L&G ...
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