LV's GI operating profit drops 22% alongside broker division loss
LV's general insurance business has reported a 22% drop in operating profit to £72m (2014: £92m) and a 14% decrease in underwriting profit to £44m (£51m) for the 12 months to 31 December 2015.
Gross written premiums increased 6% from £1.39bn to £1.47bn. The general insurance combined operating ratio remained unchanged from the 2014 result at 96.1%.
The insurer's strategy to diversify its
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