Bank’s latest interest irate

A low point for insurers Fury as it remains the same... again

COUCH END Sofology sponsored Gogglebox The car insurance market is “dysfunctional”, according to the boss of one of Britain’s biggest insurers.

Aviva chief executive Mark Wilson said firms were using “too low” prices to tempt new customers, leaving loyal consumers paying over the odds.

Motor insurance premiums have climbed 11% in the last year, leaving the typical bill for an annual policy at £484, according to the Association of British Insurers.

But rising premiums have actually helped boost the profits of the big firms. Aviva yesterday reported an 11% rise in first-half profits to £1.46bn.

Meanwhile, rival Esure – which also owns Sheilas’ Wheels – said profits at its motor division accelerated from £34.3m to £48.1m in the six months to June 30. Gogglebox sponsor Sofology has been bought by rival sofa chain DFS in a £25million deal.

It will take over Sofology’s 37 UK stores, and the group said it has already identified £4m-worth of cost savings every year.

While the TV show – in which

INTEREST rates were kept at a record low yesterday which means continuing woe for savers.

punters lounge on couches and comment on what they’re watching – has gone from success to success, the sponsor has struggled. Last year Sofology posted a loss of £8.9m.

The is the latest in a long line of acquisitions by DFS, which includes rivals Dwell and Sofa Workshop.