LV takes £139m hit from Ogden cut
LV took an £139m hit to strengthen its claims reserves as a result of the decision to cut the Ogden rate.
The insurer saw a general insurance operating profit of £26m in 2016, a drop of 64% from the previous year’s figure of £72m.
Its GI combined ratio rose from 96.1% to 105.8%. If the discount rate had
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