O’Roarke reveals targets for 2012
John O’Roarke, managing director of LV general insurance, has revealed the insurer is targeting an increase in profit of at least 20% in 2012.
"Let me make myself a hostage to fortune," he commented as the insurer revealed it had doubled profits to £70m in 2011.
"We expect profits to increase by at least 20% [in 2012]."
Mr O'Roarke said he was very happy with the provider's performance in what he believed was always going to be a challenging year.
He claimed that despite the 23% growth in gross written premiums to £1.46bn the insurer had succeeded in maintaining customer and claims service levels by building infrastructure.
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