LV protection business up 34%

Its protection sales rose to £23.7m from £17.7m in 2009 with a total trading profit of £34.7m, up 57% (£22.1m). Richard Rowney, life and pensions managing director at LV=, said: "Sales are up across the board on pensions, annuities, protection and equity release in 2010 and we have seen a 57% increase in the division's profit. "Profitability in the life business was enhanced by improved cost control and by our development of new IFA accounts. For instance, in November 2010, we were delighted to win a position on the protection panel of Sesame Bankhall, the largest distributor of prote...