LV experiences rapid growth and profit hike but takes £30m hit in December
However, £30m of this loss was, according to the insurer, attributable to the severe weather experienced in December. Investment income of £73m allowed LV to report profit of £30m, up dramatically from £7m in 2009. Combined operating ratio came in at 104.2%, a very slight deterioration on last year.
LV’s MD of general insurance, John O’Roarke, said the results were excellent and predicted that the general insurance book would record a 98% combined ratio in 2011.
“This is an excellent performance
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 [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] 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 [email protected]
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 [email protected]
More on Insurer
Podcast
The Insurance Age Podcast: 3 April 2020
Insurance Age commissioning editor, Laurence Eastham, and news editor, Ida Axling, discuss the top stories of the week.
Subscribe to our daily newsletter for all the latest news
Most read
- Blog: Three ways to be more efficient working remotely
- Trust in insurance sector plummets after BI case
- Aston Lark posts growth in turnover and Ebitda in 2019
- People Moves Round-up: 19 - 23 October 2020
- BI dispute: RSA won't appeal on Resilience and two Eaton Gate wordings
- Lockton denies fraud allegations in ongoing legal dispute
- Applied’s Fairchild plans organic growth