Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 23rd of May 2018
August 3, 2011

LV= reports improving H1 results

by Richard Kilner

Story link: LV= reports improving H1 results

LV= has reported its interim financial performance results for the first six months of the year, during which gross written premiums increased from £547m last year to £704m in H1 2011.

Biannual pre-tax profits were up by approximately 50% from £34m to £52m.

Similarly, trading profits increased from £35m to £53m, and the insurer continues to enjoy very high levels of customer satisfaction (96.5%).

Managing Director John O’Roarke described the results as very satisfactory given the challenging operating conditions in which they were achieved.

Looking to the future, O’Roarke said that the firm hoped to achieve steady growth across both channels in the remainder of 2011, with a close eye kept upon the cost of personal injury and fraud.

LV= has also recently reported a 9% increase in life sales, to £69.3m, in the first half of the year, with retirement business up 11%.

 

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