View more on these topics

LV= sales surge on investment bond growth

Richard Rowney LV=

A £150m increase in investment-linked bond sales has helped push life and pensions sales at LV= up 22 per cent.

A trading statement for the first nine months of the year shows sales of the mutual’s flexible guarantee bond grew 153 per cent, from £98m last year to £248m in 2015.

Overall the life and pensions business has seen sales increase from £1.1bn to £1.3bn.

While annuity and equity release sales are down at 32 per cent and 46 per cent respectively, pensions sales are up 40 per cent, from £440m to £615m.

LV= attributes the rise to increased demand for drawdown products.

Life and pensions managing director Richard Rowney says: “We have witnessed a change in the buying behaviour of those approaching retirement and there has been a notable rise in the number of advisers and clients that are now looking for blended solutions – combining the flexibility of drawdown and the guarantees provided by specialist annuities.”

The mutual recently entered the corporate pensions market, launching tools for defined benefits schemes.

Earlier this month, Money Marketing also revealed LV= is also planning to enter the enhanced bulk annuity market in 2016.



LV= eyes bulk annuity launch

LV= is planning to launch into the bulk annuity market next year as part of a move into defined benefit pensions, Money Marketing can reveal. The mutual suffered with other annuity providers following the intro-duction of the pension reforms. Annuity sales slumped from £242m to £146m, its 2015 first-half results show. But the company is now eyeing […]


Drawdown surge boosts LV= profits

LV= has reported operating profits of £12m within its life division for the first six months of 2015, driven by a surge in demand for drawdown following the introduction of pension freedoms in April. The insurer’s results for the first half of the year, published this morning, reveal year-on-year life sales measured on a present […]

British Friendly hires LV= protection boss

British Friendly Society has hired LV= managing director for protection Iain Clark as marketing and distribution director. Clark will join the company in the new role in September. Prior to LV=, where he has worked for the past four years, Clark has also held sales director roles at Legal & General and PruProtect. British Friendly […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm