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LV= considering end to independence with sale of life insurance/pensions units

Written by Adam Cadle
11/06/2020

LV= is exploring a sale of its life insurance and pensions units, examining whether it is in the best interests of its 1.3 million member customers, according to latest reports.

Sky News this evening said a joint venture similar to the one LV= struck in 2017 with the German insurance giant Allianz for its general insurance operations is also an option that its board is considering.

In January, Allianz completed the planned acquisition of the remaining 51% of LV General Insurance Group (LV GIG) from Liverpool Victoria Friendly Society (LVFS). The total consideration by Allianz for 100% of LV GIG will be up to £1,078bn.

Fenchurch Advisory Partners, which is part of the investment bank Natixis, is understood to be advising LV= on its options.

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