LV= reports strong H1 life & protection sales

by Gill Montia

Story link: LV= reports strong H1 life & protection sales

LV= has reported strong life and pensions figures for the first half of 2012, with sales up 24% to £86 million on an APE basis (H1 2011: £69.3 million).

Retirement business increased 25% with APE rising to £66.7 million (H1 2011: £53.5 million) and protection business saw 20% growth with APE at £16.1 million (H1 2011: £13.4 million).

Highlights of performance by product include: annuities – 48% increase with APE £36 million (H1 2011: £24.3 million) – pensions: 5% increase with APE £26.4 million (H1 2011: £25.2 million) – protection: 20% increase with APE £16.1 million (H1 2011: £13.4 million) – equity release: 9% increase with APE £4.3 million (H1 2011: £4.0 million).

LV= Life managing director, Richard Rowney, comments: “This success is built on the growing reputation of LV=’s life and pensions business offering a high level of service, with quality products, and competitive pricing.”