Steve Treloar, Managing Director of General Insurance at LV=, said: “The current discount rate mechanism is flawed so it’s absolutely right Government is looking to reform this. Urgent change needs to be delivered so that a new discount rate can be implemented, saving money for millions of drivers and businesses and helping younger and older drivers stay on the roads. We look forward to working closely with the Government on the consultation.”
Notes to editors:
LV= employs over 6,000 people and serves over 5.8 million customers with a range of financial products. We are the UK’s largest friendly society and a leading financial mutual.
When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products. We are currently the UK’s joint number one brand for Insurance and Investments, according to the 2016 YouGov Brand Index Buzz Rankings.
We offer our services direct to consumers, as well as through IFAs and brokers, and through strategic partnerships with organisations including ASDA and Nationwide Building Society.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. LVFS is a member of the ABI and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.
- Kaidee Horton
- Head of Corporate Communications, General Insurance
- [email protected]
- 07738 274568