Chief executive John O’Roarke puts pen to paper on four-year contract
LV= chief executive John O’Roarke and his management team have signed a four-year deal to stay on at the insurer.
The former managing director of Churchill will look to expand LV=’s 10% market share in motor. He also wants to expand home and SME.
O’Roarke’s has been at LV= since 2006. He has helped turned losses into profits and quadrupled the size of the business.
The rest of the management team includes operations director Peter Horton, LV= Broker managing director Phil Bunker, company secretary Paul Cassidy and finance director Steve Castle.
In August, LV=’s general insurance business made a pre-tax profit of £52m in the first half of 2011, up 53% on the £34m it made in the same period last year.
The insurer also turned an underwriting profit, posting a combined ratio of 98.1% in this year’s first half compared with a loss-making 101.9% in the first half of 2010.
Click here to read Insurance Times’s 2009 interview with the LV= management team.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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