LV= retirement and protection business grows 15%

Retirement business had an annual premium equivalent (APE) of £124.4m in 2012 up from £108.2m in 2011. Protection business stood at an APE of 32.2m up from 28m in 2011. These figures contributed to an overall underlying operating profit for life and pensions business of 26.3m, up 7% from 2011. LV= life and pensions managing director Richard Rowney said this was the fifth consecutive year of growth in its life and pension business and confirmation the business was following the correct strategy. "The growth we have seen in our retirement and protection business shows our strategy is...