Stable performance in “transitional year” for LV

Steve Treloar

LV’s general insurance business reported GWP of £1.58bn for the full year 2018, close to the £1.60bn posted the previous year.

Underwriting profit was £99m (2017: £102m) while operating profit reached £107m, a slight fall on the £120m recorded the previous year.

COR increased marginally to 92% from 91.8%.

General insurance CEO, Steve Treloar, commented: “We are characterising it as a strong performance in a year of transition.”

The provider is partway through implementing a “joint venture”

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