LV= has reported a 36% profit drop in its life and pensions business as a result of lower margins since changes to the annuity market were announced in the Budget.
Underlying operating profit fell to £7m in the first half of the year from £11m in H1 2013, according to the firm's half yearly results, published today. The business also made an operating loss...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
