LV’S NON-LIFE PROFITS RISE AHEAD OF SALE TO ALLIANZ

UK insurer LV= saw its non-life business report a post-tax result of £29m in the first half of 2019, up on the £5m posted in the same period of 2105. LV= is currently in the process of selling its general insurance business to German insurance group Allianz. “We remain on track to separate the business by the end of 2019, well ahead of the original plan, and the value of this transaction will be reflected in our 2019 full year results,” the company said in a statement. LV= group’s pre-tax profit from continuing operations almost tripled to £35m in the first half, although the insurer posted an unchanged operating loss of £27m.