LEBC valuation slashed by a third after withdrawal from DB transfer market

LEBC stopped DB business in September

Kim Kaveh
clock
“The group will work closely with LEBC’s management team to return LEBC to the position it was in before the withdrawal from the DB market” - B.P. Marsh & Partners.
Image:

“The group will work closely with LEBC’s management team to return LEBC to the position it was in before the withdrawal from the DB market” - B.P. Marsh & Partners.

LEBC's majority shareholder B.P. Marsh & Partners has reduced the valuation of its holding in the group by 33%, following its withdrawal from the defined benefit (DB) transfer market.

According to the group's interim results for the six month period to 31 July 2019 published today (15 October), the group still holds a 59.3% stake in LEBC. This was valued at £35.5m in January, but...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Chris Budd: What isn't financial wellbeing?

Chris Budd: What isn't financial wellbeing?

Relationship between money and happiness

Chris Budd
clock 27 May 2022 • 3 min read
Industry Voice: New Consumer Duty - are advisers ready for the changes?

Industry Voice: New Consumer Duty - are advisers ready for the changes?

Jamie Jenkins, Director of Policy & External Affairs, Royal London
clock 26 May 2022 • 4 min read
Figures published in April1 showed the continued popularity of sustainable funds, with £1.8 billion pouring in, according to M&G

Third of UK investors turn to advisers for ESG support - M&G

'Lack of knowledge'

clock 25 May 2022 • 2 min read