LV= profits rise despite ``challenging regulatory backdrop''
Insurer LV= saw its underlying profits rise 19% to £126 million in 2012, boosted by increased life and pension sales which were up 15% at £155.6 million, despite what its described as a 'challenging regulatory backdrop'.
LV= has cut the rates on its lifetime and flexible lifetime mortgages and will no longer charge a higher rate of interest for loans over £600,000.