GI profits flat at LV

John O Roarke is general insurance managing director at LV

LV has reported profits before tax of £53m for the first half of 2012, in line with the £52m achieved in the same period of 2011 for general insurance.

The insurer did however deliver a 13% increase in trading profits - defined as underwriting result plus investment income - to £62m for the first half of 2012, up from £55m in the first half of last year.

Premium income rose by 6% to £747m (H1 2011: £704m) as the provider's combined operating ratio improved to 97% in the period from 98.1% in the comparable period of 2011.

However premium volume in the personal lines broker channel was down 12% to £250m in the first half of 2012, which LV said

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

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