Royal London and LV= cease merger talks

Mutuals halt discussions

Jenna Brown
clock • 2 min read

Royal London and LV= have halted merger talks saying the firms' different mutual models meant a tie-up would "not be in the best interests of members".

Two days ago, on Monday 9 Februray, Royal London confirmed it was in "exploratory" talks with rival mutual LV= about a merger after submitting a second proposal at the end of 2021. It followed confirmation on 10 December 2021, that Royal London said it was its belief that it could "offer an attractive future for the members of LV= as part of a growing and well-capitalised mutual" following the collapse of its proposed by out by private equity house Bain Capital. However, discussions between the groups have ended with no agreement. The proposed mutual merger was institaged after an ...

To continue reading this article...

Join Professional Adviser for free

  • 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 Companies

Entrepreneurial WIFA contender launches financial planning firm

Entrepreneurial WIFA contender launches financial planning firm

Frankie Smith has launched two businesses at the age of 29

Isabel Baxter
clock 21 March 2024 • 3 min read
The Penny Group acquires Midlands-based HNW advice firm

The Penny Group acquires Midlands-based HNW advice firm

Latest deal as part of the Chartered firm’s ‘buy and build’ strategy

Isabel Baxter
clock 12 March 2024 • 2 min read
FCA fines advice firm nearly £900,000 over British Steel failings

FCA fines advice firm nearly £900,000 over British Steel failings

IFM ‘poorly advised’ clients to transfer out of DB pension schemes

Isabel Baxter
clock 11 March 2024 • 2 min read