LV sees broker business soar by over 50%
LV’s results for the six months ending 30 June 2010 have revealed a 56% increase to £300.6m (H1 2009: £193.1m) in broker business.
Gross written premiums (GWP) for general insurance overall were up 37% to £546.4m (H1 2009: £397.5m) and combined operating ratio improved to 101.9% (H1 2009:103.8%).
Direct business as a whole went up by 20% to £245.8m (H1 2009: £204.4m) while new direct business GWP increased by 39% to £85.0m (H12009: £61.3m).
According to the Financial Services Authority returns for 2009, LV is now fourth biggest private car insurer.
Mike Rogers, LV group chief executive, commented: "Although the market
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