LV's COR down as broker channel grows

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LV's profit before tax grew to £52m (H1 2010: £35m) and its gross written premiums (GWP) increased by 29% to £704m.

Both distribution channels experienced growth with premiums in LV Broker rising by 18% to £354m compared with H1 2010. Broker motor personal lines sales were up by 13% to £238m and the insurer put this down to a combination of rate hardening and growth in policy volumes. In commercial lines, premiums written increased by 38% to £70m.

The direct business also saw growth with the

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