Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 23rd of January 2018
August 8, 2012

LV= launches apprenticeship programme

by Gill Montia

Story link: LV= launches apprenticeship programme

LV= has launched a financial services apprenticeship programme for customer service teams working within its life insurance and retirement solutions business. The programme is governed by the National Skills Academy for Financial Services (NSAFS) and will be delivered at LV=’s Bournemouth, Exeter and Hitchin offices. It is tailored to the requirements of each office, marking […]



August 6, 2012

LV= appoints audit committee chair

by Gill Montia

Story link: LV= appoints audit committee chair

LV= has appointed James Dean as audit committee chairman, a non-executive position. Mr Dean has 30 years of experience in audit and advisory roles in the financial services sector, most recently at Ernst and Young where he was a senior partner. In his new role, he will create and manage effective working relationships among the […]



July 30, 2012

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 […]



July 14, 2012

Parking spaces shrink as cars get longer

by Gill Montia

Story link: Parking spaces shrink as cars get longer

The average amount of space for parking in England’s residential areas has shrunk by 9% over the past decade, LV= research reveals. Typically, since 2001, motorists have seen the space available for parking near home decrease by nearly a metre from 9.84 metres per car to 8.97 metres in 2011. Meanwhile LV= estimates that the […]



July 9, 2012

LV= appoints head of customer experience

by Gill Montia

Story link: LV= appoints head of customer experience

LV= has appointed Craig McVoy as head of customer experience for its retirement solutions business. Mr McVoy has over a decade of experience of leading customer services teams, including eight years at Privilege Insurance and most recently at Inchcape, where he was head of contact centres. In his new role he will report into Steve […]



July 6, 2012

LV= named general insurer of the year

by Richard Kilner

Story link: LV= named general insurer of the year

At the British Insurance Awards, held at the Royal Albert Hall, LV= was named the general insurer of the year. The general insurer of the year award is given in recognition of both a high standard of customer service and a strong commitment to meeting the needs of customers. LV= was praised by the judges […]



June 25, 2012

LV= appoints new chief investment officer

by Richard Kilner

Story link: LV= appoints new chief investment officer

Insurance, investment and retirement group LV= has announced that it has appointed Wendy Mayall as the firm’s new chief investment officer. Mayall will take on responsibility for all aspects of the firm’s investment strategy, offering advice and support to differing business areas. She will manage the relationship with Threadneedle Investments, who manage the Society’s assets, […]



May 28, 2012

Brands stolen to order in new crime wave

by Gill Montia

Story link: Brands stolen to order in new crime wave

Research by criminologists commissioned by LV= claims that 5% of burglaries committed last year were carried out by criminals who steal specific brands “to order”, with the trend having increased significantly in the past five years. Apple, Samsung, Sony, Microsoft and Dell are the most commonly “ordered” brands as they can be sold on easily […]



May 17, 2012

No pension plan in place for six million Brits over 50s

by Gill Montia

Story link: No pension plan in place for six million Brits over 50s

Over six million Britons aged over 50 (28%) have no pension plan in place and look set to rely on the state pension in retirement, according to LV=’s latest State of Retirement Report. Currently just 1.2 million people live solely on the state pension, which equates to an annual income of up to £5,587 and […]



May 16, 2012

LV= adds break clause to fixed-term annuity

by Gill Montia

Story link: LV= adds break clause to fixed-term annuity

LV= has added a break clause to its fixed-term annuity, allowing customers to transfer to another pension or annuity product with LV=, or another registered pension scheme, in the event of certain changes in circumstance. These include becoming eligible for flexible drawdown, the diagnosis of a medical condition which qualifies for an enhanced annuity, marriage, […]



May 10, 2012

Equity release to become mainstream product

by Gill Montia

Story link: Equity release to become mainstream product

New research commissioned by LV= found that 86% of financial advisers questioned considered equity release to be a significant future growth area for their business, with more than half of this group already reporting an increase in client interest. Over two thirds of respondents believed pension shortfalls will be the main driver, while almost a […]



April 30, 2012

LV= appoints claims director

by Gill Montia

Story link: LV= appoints claims director

LV= has appointed Chris Rolland as claims director with responsibility for overseeing all aspects of claims across the mutual’s general insurance business. Mr Rolland, who was previously chief executive officer and vice president of American Express Insurance Services Europe, will report into LV= chief operating officer, Peter Horton. Prior to joining American Express, he held […]



April 5, 2012

LV= announces 2011 results

by Richard Kilner

Story link: LV= announces 2011 results

LV= has reported its financial results for 2011, including a group underlying profit of £99.4m, a 10% rise from the £90.7m of 2010. The firm also turned around its operating profit from last year, when it incurred a £10.4m loss, by recording a £29.5m operating profit. However, the IFRS result (after tax but before mutual […]



March 27, 2012

LV= scraps upper age limit on car insurance

by Gill Montia

Story link: LV= scraps upper age limit on car insurance

LV= has removed the upper age limit on its car insurance with immediate effect. Previously, those aged 86 and over could not get car insurance with the mutual unless they were already insured with it. Explaining the move, LV=’s managing director of car insurance, John O’Roarke, says: “LV= was one of the first insurers to […]



March 16, 2012

LV= recognised for employee engagement

by Gill Montia

Story link: LV= recognised for employee engagement

LV= has won the Employee Engagement Strategy of the Year award at the UK Customer Satisfaction Awards, held by the Institute of Customer Service. The accolade was received by the insurer’s life and pensions’ customer service team, for its 2011 employee engagement strategy. Judges were impressed with a number of LV=’s initiatives, including the creation […]



January 24, 2012

LV= launches pensions microsite

by Gill Montia

Story link: LV= launches pensions microsite

LV= has launched a new pensions microsite aimed at providing advisers with clarity on forthcoming technical changes to pensions legislation. The site focuses on changes in four key areas: lifetime allowance, contracting out, flexible drawdown and the new carry forward rule. The main issues affecting clients are highlighted, helping advisers to maximise business opportunities by […]



January 13, 2012

LV= launches Bristol recruitment drive

by Richard Kilner

Story link: LV= launches Bristol recruitment drive

LV= has announced that it is expanding its presence in Bristol, where its office handles general insurance business including customer service, claims handling and IT. The firm has enjoyed strong growth recently and is seeking to increase its staff numbers, (presently 500), in the city by recruiting 50 more staff in the first half of […]



January 9, 2012

LV=Broker at the ready for growth

by Gill Montia

Story link: LV=Broker at the ready for growth

LV= Broker has promoted Kevan Aubrey to head of commercial distribution and Mark Campbell to head of key commercial accounts. Both are new roles, reporting in to Mike Crane LV= Broker’s commercial director. According to the mutual, the promotions reflect ambitious growth plans for the future, with Mr Aubrey leading LV= Broker’s overall commercial distribution […]



December 12, 2011

LV= asset management team migrates to Friends Life

by Gill Montia

Story link: LV= asset management team migrates to Friends Life

Friends Life has hired an award winning fixed-income team from Liverpool Victoria to run its new asset management business, set to launch in the second half of 2012. Joining the group in January, Michael Wright, John Hampton, Purna Bhudia and Nigel Bradshaw will be London based and report to Friends Life Investments (FLI) chief investment […]



December 2, 2011

Online booking blunders cost holidaymakers hundreds

by Gill Montia

Story link: Online booking blunders cost holidaymakers hundreds

Holidaymakers booking online are paying out hundreds of pounds to correct mistakes, with the average cost of an error amounting to £232. New research from LV= travel insurance suggest that almost one half of UK holidaymakers now book online but nearly one in twelve make mistakes when doing so. Almost a quarter of respondents who […]