LV results hit by weather claims
Profit and COR deteriorates for H1 2018 but GWP increases to £827m amid transfer of business with Allianz.
LV’s general insurance business has seen its’ COR deteriorate to 95.7% in the first half of 2018.
Last year saw a COR of 93.6% for the half year. Operating profit also slipped to £23m (H1 2017: £39m).
The business blamed these figures on severe weather at the start of 2018.
Richard Rowney, LV Group chief executive, said: “In common with most other home insurers our General Insurance business was adversely impacted by severe weather at the start of the year which resulted in £17m of net claims
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