UK-based mutual insurance and investment group Liverpool Victoria has seen a 19 per cent rise in profits to £126.2 million (around $193 million) for 2012, up from £105.8 million in 2011.

The firm’s life business saw a 7 per cent rise in underlying operating profit to £26.3 million (2011: £24.5 million) with sales up 15 per cent at £156.6 million on an annual premium equivalent basis (2011: £136.2 million).

The firm also pointed to an “outstanding performance” in its general insurance business as a driving factor to the overall increase. General insurance underlying operating profit increased by 53 per cent to £117.1 million (2011: £76.4 million).