Chief executive highlights competitive pricing as key
LV= posted healthy results this week, showing a 92% increase in general insurance GWP to £397.5m for the first six months of this year, from £206.5m for the same period last year.
Broker business exploded 902% to £192.4m from last year’s first-half result of £19.2m.
Chief executive John O’Roarke said the results put LV= ahead of its growth plan. He said the insurer had benefited from a “sweet spot” in its pricing.
“Our business is growing across all distribution channels. We are very competitive in terms of the business we want to write, at a time when many of our rivals are having to conserve capital.”