Stable performance in “transitional year” for LV
GI CEO Steve Treloar said the business was working with 150 new broker partners and committed to further investment as 2018 results are published.
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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