Insurer reports 21% sales rise in first half.
Sales of general insurance products at Liverpool Victoria (LV) have risen 21% in the first half of the year.
The friendly society, which last week made an all-cash offer for Highway Insurance Group, reported gross written premiums (GWP) of £206.5m for the half year, up from £170.1m in first six months of 2007.
New business gross written premiums for general insurance products were up 68% to £66.6m.
Direct business, including aggregator, hit £47.4m in the first half, up from £39.4m in the same period of 2007. Broker business ABC grew to £19.2m from £200,00 last year.
ABC, which launched in June last year, is looking to write £300m of premiums in four years.
Mike Rogers, group chief executive of LV, said the growth in general insurance new business sales reflected the success of its multi-channel approach.
“Looking ahead to the second half of 2008 we see a firming general insurance market,” Rogers said.
He added: “Our offer for Highway Insurance will, following completion, enhance our general insurance broker business substantially, giving us a wider range of products to offer and greater critical mass in the market.
