LV= life and pensions sales climb 14%

Total new business across Life and Pensions climbed 14% to £45.2m, buoyed by strong sales of retirement products. Retirement sales hit £35.4m in the first six months of the year, compared with £28.8m in the same period of 2008, a rise of 23%. However, savings and protection business fell 10% to £9.8m. LV= says it has implemented tight cost controls on its protection business in an effort to offset subdued market volumes. LV Asset Management saw total assets remain steady at £7bn, and net fund inflows of £213m compared with the first half of 2008. The firm's general insurance ar...