Insurance Age

LV operating profit slips to £43m amid "difficult" motor market

Cars on a motorway
    • Andrew Pearce

    • Indicative reading time: 1 minute

  • LinkedIn  
  • Save this article
  • Print this page  

LV saw its operating profit slip to £43m for the first half of 2013, down on the £62m posted for the same period of 2012 for general insurance.

The provider's premium income remained flat compared to last year, edging up to £748m from the £747m recorded in 2012. 

Its combined operating ratio (COR) crept up to 97.6% from 97% - an amount the insurer attributed to falling premiums rates.

And its underwriting profit fell to £17m from the £21m registered for the first half of 2012.

The provider's motor in-force polices nudged up to £3.1m from £3m as its total in-force policies increased to £4.3m from £4m.

As for its broker business, GWP came

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Copyright Infopro Digital Limited. All rights reserved.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@insuranceage.co.uk

Copyright Infopro Digital Limited. All rights reserved.

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@insuranceage.co.uk

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

More on Insurer

Biba 2024: FCA to take its time on transparency proposals

Emily Shepperd, chief operating officer of the Financial Conduct Authority, has said the regulator was “overwhelmed” at the response and amount of feedback to its transparency proposals, and that it is going to “really take our time” when considering any possible next steps.

Brokers upbeat on 2024 growth – Aviva

Brokers are more optimistic about growth in the coming year than they have been since before 2020, according to Aviva, with 83% expecting their business to grow compared to 76% last year.