LV “very happy” with 2014 results
CEO admits that second half of the year was “more challenging” than the first.
John O'Roarke has told Insurance Age that he is "very happy" with LV's results for 2014 adding "at the half year we were looking okay but as we got into the second half it was more challenging due to investment returns."
The CEO pointed out that a big part of the underwriting profit, which increased from £15m in 2013 to £51m - a 240% rise - was thanks to prior year development which is a consistent feature of the industry.
O'Roarke said he was "very satisfied" with the way the results had
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