Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 20th of May 2019
March 1, 2011

LV= reports strong with-profits performance

by Richard Kilner

Story link: LV= reports strong with-profits performance

LV= has reported its annual with-profits performance and payouts for 2010, including a with-profits fund investment return of 15.5% (flat with 2009’s 15.4% return).

The firm’s mortgage endowments performed well, with a 20 year policy covering a £50,000 mortgage presently paying a surplus of £8,000.

Furthermore, the firm’s mortgage endowment guarantees that policies paid to full term will meet any mortgage covered by the policy.

A £50 a month 25 year savings endowment policy maturing on 1 March 2011 will pay out £47,096, meaning that it provides a highly competitive annual yield of 8.2%.

LV= director of actuarial services Myles Rix praised the firm’s with-profits results, stating that the investment return of 15.5% was superior to many comparable products.

The strong with-profits results follow robust interim results, reported in September, with LV= recording a 37% rise in gross written premiums from £397.5m to £546.4m.

 

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