Profits and turnover up at LV in 2017
Broker channel delivers £30m operating profit.
LV has posted a combined operating ratio (COR) of 91.8% for 2017 describing the figure as a “record” for its general insurance (GI) business. The COR in 2016 was 94.1%.
Gross written premiums in 2017 for GI were up 1% to £1.6bn.
The insurer also revealed that it swapped a £69m underwriting loss in 2016 for a profit of £103m.
The operating figures also moved from the red to black with a £121m profit reversing the £26m deficit in 2016.
Discipline
According to the insurer the level of
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