News: LV motor book inspires similar growth throughout business
LV Broker managing director, Phil Bunker, has set a target of £100m gross written premium (GWP) for the insurer's small business book by the end of the year as it announced a dramatic turnaround in its financial performance.
LV Broker currently controls £70m GWP in the small to medium-sized enterprise (SME) market but Mr Bunker believes the rapid growth seen in the insurer's motor book can be replicated in other lines.
LV's general insurance business turned a profit of £7m in 2009 compared with a loss of £30.1m the previous year and premium income increased to just over £811m of which the broker channel contributed £399m.
Mr Bunker attributed the remarkable turnaround to a complete overhaul of LV's underwriting and
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