Liverpool Victoria reports rise in sales and customers

MUTUAL insurer Liverpool Victoria hailed the reshaping of the business yesterday after a rise in sales and 12 per cent more customers.

The firm, which trades as LV, said life and pension sales rose 7.5 per cent to 92.2 million in 2009, while its general insurance business moved into profit a year ahead of plan.

It posted underlying profits of 44.2m for 2009, up from 2.3m. But on a pre-tax basis it stayed in the red with losses of 91.4m due to buying equity protection, pumping cash into capital reserves and investment fluctuations.