LV chief John O’Roarke reveals COR and growth targets

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LV saw premium volume in the personal lines broker channel decline by 12% to £250m in the first half of 2012, whereas direct and broker commercial both grew as it reported trading profits of £62m (H1 2011: £55m).

Mr O'Roarke told Insurance Age: "The way we try to run the business is to be channel agnostic."

He added: "What we do try to do is equalise the profitability. We want each source of business to get as close as possible to the 97% COR target.

"To do that with broker personal lines

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