LV= blames £202m loss on market volatility

The group blamed the profit slump on short-term investment fluctuations. However, there has been a turnaround for the group's operating profits which rose 128% to £62.8m, compared to a loss in 2006. Gross premiums also increased over the year, up 38% to £917m (£665m in 2007). Financial strength was retained with the group capital surplus standing at 2.1 times the level required, up from 1.8 times in 2007, The group also highlighted the relative strength of its with-profits fund. It stated the average value of a maturing LV= 25 year with-profits policy fell only 1.2% year-on-year, desp...