LV= upped its group operating profit by 127% to £195m in 2015.
LV= upped its group operating profit by 127% to £195m in 2015.
Despite the increase LV=’s general insurance profit fell from £92m in 2014 to £72m last year – with weather claims in December resulting in a £19m loss in broker business.
Mike Rogers, LV= group chief executive, said: “The challenging market conditions experienced in 2014 with depressed investment returns and pressure on home insurance rates, have continued in 2015.
"Against this backdrop LV= has performed very strongly."
LV= upped its protection sales by 25% to £272m in 2015 with the help of £21m of new business in 2015.
The firm increased its life operating profit from a £7m loss in 2014 to £41m in 2015, however equity release business fell from £205m in 2014 to £63m last year.
