LV MD: motor rates need to rise

John O'Roarke

Mr O’Roarke said the insurer had enjoyed a “pretty good year”, with a 53% increase in profit, and was “extremely pleased” with the results for the broker part of the business.

However, he added: “The only disappointing part was in broker personal motor. People were undercutting us, and some of the business drifted away.”

According to Mr O’Roarke, personal motor rates have fallen by “probably 12%” since the market peaked in September 2011.

“[Rates] needed to fall, but 12% is way too much,” he

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 copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

If you already have an account, please sign in here.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: