LV= appoints group company secretary
by Gill Montia
Story link: LV= appoints group company secretary
LV= has appointed Rachel Small as group company secretary, effective 1st January 2013. Ms Small joined the mutual in September 2007 and is currently group general counsel. She will continue in this role, while taking on the additional responsibility of advising the LV= board of directors to ensure high standards of corporate governance across the [...]
LV= and Swiss Re complete £800m longevity insurance
by Gill Montia
Story link: LV= and Swiss Re complete £800m longevity insurance
LV= has completed an £800 million longevity insurance contract with reinsurer, Swiss Re. The agreement covers over 5,000 individuals who were members of the LV= Employee Pension Scheme as of 31st December 2011. It also encompasses a broader population than previous pension market longevity transactions because it covers 1,000 members not yet retired, down to [...]
Drivers confused about drink drive limits
by Richard Kilner
Story link: Drivers confused about drink drive limits
LV= car insurance has commissioned research which reveals that the number of drivers who have driven whilst under the influence of alcohol has almost doubled since 2009. The vast majority (88%) realise drink driving affects their driving ability, but 15% nevertheless admit to having driven whilst over the legal limit. The rise in drink driving [...]
Women likelier to work beyond retirement age
by Richard Kilner
Story link: Women likelier to work beyond retirement age
The annual Working Late Index from retirement specialist LV= has reported that the number of over 50s expecting to work beyond the state retirement age has risen from 4.5m in 2010 to 6.5m. On average, those expecting to work past the retirement age think they will do so for 6.2 years. There is a significant [...]
One in three use mobile phones whilst driving
by Richard Kilner
Story link: One in three use mobile phones whilst driving
Every year an average of 100,000 motorists are fined for using a mobile phone whilst driving, according to a Freedom of Information request by insurer LV=. However, this indicates that just a fraction of mobile phone use is detected as 33% of motorists admit to using their phone whilst driving. More than three-quarters (77%) of [...]
LV= launches with Insure4Retirement
by Gill Montia
Story link: LV= launches with Insure4Retirement
LV= Broker has launched its ABC home insurance product on Insure4Retirement. This is the first collaboration between the companies and the first launch of ABC home insurance with a specialist over-50′s provider. The insurer says the move is a key step in helping to increase the availability of the policy through the broker channel. LV= [...]
Mobile phone theft up 25% in three years
by Gill Montia
Story link: Mobile phone theft up 25% in three years
Mobile phone theft has increased 25% in the past three years, with an average 264 mobile phone robberies currently reported to the Police each day. According to official data obtained by LV=, over half of mobile phone thieves are in their teens but some are as young as nine years old, and only 1% of [...]
RSA and LV= sign motor claims agreement
by Gill Montia
Story link: RSA and LV= sign motor claims agreement
RSA and LV= have signed a bilateral agreement aimed at speeding up and streamlining motor claims processes and cutting unnecessary costs. Commenting on the deal, LV= technical claims director Martin Milliner says: “This is a great step forward to ensure fairness all round.” RSA says it remains open to talks with other insurers on the [...]
LV= offers 5% discount on income protection
by Gill Montia
Story link: LV= offers 5% discount on income protection
LV= is offering a 5% discount on all income protection applications until 30th November 2012. The discount, which will be included automatically in new quotations, comes ahead of the implementation of the EU gender directive, which will see the insurer switch protection to gender neutral rates on 1st December 2012. All applications in the pipeline [...]
LV= bolsters retirement solutions business
by Richard Kilner
Story link: LV= bolsters retirement solutions business
LV= has announced the appointment of Stuart Wilson to the post of head of marketing for its retirement solutions business. Wilson joins the firm from Prime Time, where he worked as marketing director and supervised the launch of its fixed term annuity proposition. At LV= Wilson will be tasked with enhancing the profile of the [...]
LV= announces future chairman
by Richard Kilner
Story link: LV= announces future chairman
LV= has announced that it has appointed Mark Austen to be the firm’s new chairman for an initial three year period following the AGM on 23 May 2013. Dennis Holt has served as LV=’s chairman for two terms (totalling six years) and will step down at the same time. Austen has been with the firm [...]
LV= partners RAC with protection products
by Gill Montia
Story link: LV= partners RAC with protection products
LV= has signed a five-year partnership agreement with motoring service provider, RAC. Through LV=, RAC will offer its customers a telephone-based advice service on protection products (income protection, critical illness and life cover) and issues such as inheritance tax planning. Customers will also be able to purchase term life and 50 Plus products via the [...]
LV= launches personalised careers website
by Gill Montia
Story link: LV= launches personalised careers website
LV= has developed a new careers website based on a user’s location. The content of the site is determined by the LV= office closest to a job seeker’s location and includes film footage and specific articles, in addition to providing a unique list of available jobs. The technology works by identifying the user’s whereabouts via [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]
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, [...]
