LV denies market charge of 'massaging' motor results
LV has hit back at persistent market speculation surrounding the health of its motor business.
The mutual insurer's half-year results revealed that it has boosted its broker business by 56% but voices in the industry have raised concern that this rapid growth has put pressure on the profitability of its motor book.
A source in the market suggested recent results had been "massaged" by large reserve releases. However, a spokeswoman for LV strongly denied these claims and said that the business was strong and profitable.
"I am not sure where these rumours are coming from. At LV pricing is
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