LV profits fall for first half of 2016

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LV reported income of £1.2bn for the first have of 2016, a slight increase on the £1.1bn reported in the same period last year.

Group operating profits dropped to £33m (2015: £79m) while profit before tax fell to £1m (2015: £49m).

The general insurance operating profit fell to £22m from £70m in 2015.

Group CEO Richard Rowney commented: "The underlying trading performance of our general insurance business is good with 8% growth in premium income.

"Profitability in 2016 has been affected by the

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