LV COR slips to 94.9% in 2019
LV General Insurance Group has posted a 13% fall in operating profit to £93m for the year ended 31 December 2019 as Ogden took another bite out of the insurer’s performance.
The provider revealed a £13m hit from the change in the discount rate to minus 0.25%.
The reserve strengthening was in contrast to the £35m release the year before when it anticipated a 0% Ogden rate
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