LV= confirms demutualisation with sale of pensions and insurance business to Bain Capital

£530m

Hope William-Smith
clock
LV= has agreed to sell its remaining pensions and insurance businesses to private equity firm Bain Capital for £530m.
Image:

LV= has agreed to sell its remaining pensions and insurance businesses to private equity firm Bain Capital for £530m.

LV= has agreed to sell its remaining pensions and insurance businesses to private equity firm Bain Capital for £530m.

The insurer said that, as a result of the deal, the capital available for distribution is expected to increase by up to 40% - capital which will be used to increase payments to with-profits members...

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 Pensions

NHS pension scheme reissuing statements after 2,800 errors

NHS pension scheme reissuing statements after 2,800 errors

Incorrect statements issued

clock 19 May 2022 • 2 min read
Laura Suter: "While lots will think that they have ages before they plan to retire in which they can make up those missed contributions, we all know that it's the money you pay in during your 20s and 30s that really boosts your pot when you come to retire."

Laura Suter: Pension contributions under threat as cost of living crisis grows

Belt tightening

Laura Suter
clock 18 May 2022 • 3 min read
DB schemes hit record health high - LGIM

DB schemes hit record health high - LGIM

Schemes expect to fund 98.5% of accrued benefits

clock 12 May 2022 • 1 min read