The acquisition of LV= by Bain Capital is a "real endorsement of the protection market", the insurer's head of protection Debbie Kennedy has told PA's sister title Cover.
The £530m deal between Bain Capital and the insurance and pension provider was announced on Tuesday morning (15 December). 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. LV= confirmed all members will benefit from a cash payment to compensate for loss of mutual membership on the full completion of the acquisition, which is likely to be at the end of 2021. "It's a great outcome for us," Kennedy (pictured) said. "It provides us with the ...
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