Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 21st of October 2017
December 15, 2012

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 […]



December 11, 2012

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 […]



December 7, 2012

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 […]



November 28, 2012

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 […]



November 23, 2012

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 […]



November 19, 2012

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= […]



November 9, 2012

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 […]



October 29, 2012

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 […]



October 17, 2012

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 […]



October 16, 2012

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 […]



October 3, 2012

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 […]



September 6, 2012

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 […]



August 15, 2012

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 […]



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 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, […]