LV= has published a member vote pack online outlining the expected financial benefits members of the mutual could expect if they vote for the Bain Capital takeover deal.
Financial benefits would include £111m in one-off member payments and a £101m increase in future with-profit policy payout enhancements for LV= with-profit policyholders. The LV= board said the controversial deal, first announced in late 2020, presented the most positive outcome for all members. Should the proposals go ahead in full, the £530m paid by Bain Capital replaces the value of the non-profit business, according to LV=. Additionally, as part of the transaction, assets will be set aside to support the two existing staff defined benefit pension schemes, which are the responsibil...
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