LV GI's Treloar warns of discount rate-led premium rise
The CEO blamed Ogden for the increase as he pledged commitment to UK brokers and discussed the impact of the L&G deal following LV interim results.
LV GI has announced results for the first six months of the year and, excluding transfers of commercial lines to Allianz, GWP at the insurer has grown 12% from £696m in H1 2018 to £775m in H1 2019.
Operating profit for the personal lines business grew 55% from £23m to £35m over the same period.
Meanwhile, operating expenses fell 2% from £162m to £160m.
Chief executive officer Steve Treloar hailed “a really excellent first half of the year” for the business.
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