BRITISH insurance grouping Lloyds Abbey Life (LAL) achieved a 30 per cent profits rise in its last year before being fully acquired by banking group Lloyds TSB, according to figures published yesterday LAL made a pre tax profit of £548.1 million in 1996 compared with the £421.5 million profit achieved in 1995.

On December 23rd Lloyds TSB, which had owned a two thirds stake in the company, took control of the remainder of the company.