THE BOSS of insurer LV has said he expects car insurance premiums will rise in the next year, after the industry overestimated the impact of regulatory changes. LV has released a trading statement for 2013 showing overall losses for the business in both its general and life insurance arms. The insurer made an £89,000 loss on its car insurance offering, despite actually increasing the number of customers taking out policies. "We expect to see upward momentum of motor premiums in 2014," Mike Roberts said. "The market as a whole was down by about 12 or 13 per cent so I don't expect it to exceed that, but five or six per cent would be a sensible correction," he added. In other general insurance sales LV improved business in both its home and commercial sectors. In life, annuities fell by £14m and protection by £4m, although pensions generated an extra £10m for the company in the period from 1 January to 31 December 2013 .
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Quiznos Files for Chapter 11
- U.S. to Relinquish Gov't Control Over Internet
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Koch Brothers Step up Anti-Obamacare Campaign
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Vybz Kartel Convicted of Murder
- U.S. Consumer Sentiment Falls in Early March