LV= life and pensions sales down 14% year on year

The company said that the sales, down from £86m to £74.3m overall, reflect a challenging market and a focus on returns. Retirement saw an 18% decrease from £66.7m in first-half 2012. This included a 27% increase in pensions from £26.4m to £33.5m, a 51% decrease in annuities from £36m to £17.6m and a decrease in equity release of 14% from £4.3m to £3.7m. Protection decreased 9% from £16.1m to £14.7m. LV= life managing director Richard Rowney said: "The market has been challenging in 2013 following the regulation changes at the end of last year. "Against this backdrop, our protect...