LV= announces with-profits performance
LV= has announced its annual with-profits performance and payouts figures.
The firm’s with-profits fund made an annual investment return of 15.4% in 2009.
LV= has seen its mortgage endowments doing well, with a £13,000 surplus achieved for a 20 year policy covering a £50,000 mortgage.
In addition, the firm’s mortgage endowment guarantees that policies paid to full term will meet any mortgage covered by the policy.
LV= with-profits policies will benefit from bonuses totalling around £76.3m.
Customer Solutions director John Perks has said that the firm has managed to achieve market leading payouts despite the ongoing volatility in equity markets.
The good results follow on from LV=’s interim results in September which saw the firm’s gross written premiums soar by 92% to £397.5m, defying the ongoing challenges of the economic operating environment.
Category: Financials, Insurance News
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