LV= announces potential £212m pay out to members as part of Bain Capital deal

Member voting on 10 December

John Brazier
clock • 2 min read

LV= has detailed that it could potentially pay out as much as £212 million to its members should be proposed demutualisation deal with Bain Capital go through.

Within a Member Voting Pack published today (3 October), the insurer stated that it would make one-off member payments of £100 to every eligible member, totalling £111m, should the deal be completed. However, LV= also stated that the per-member pay out could be reduced to £60 should the deal be completed in an alternative way to the Part VII transfer that enables the planned insurance business transfer to a Bain Capital-controlled entity. LV= has also planned for a £101m increase in future With-profit policy pay out enhancements for all its eligible With-profits members. It stated tha...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Insurer

PartnerRe joins ABI

PartnerRe joins ABI

Over 300 members

Cameron Roberts
clock 17 April 2025 • 1 min read
Guardian upgrades critical illness cover

Guardian upgrades critical illness cover

Update to cancer definition

Jaskeet Briah
clock 16 April 2025 • 3 min read
Zurich adds IP plan to CIExpert's Insight Zone

Zurich adds IP plan to CIExpert's Insight Zone

Sits alongside its life and CI plans on the dashboard

Jaskeet Briah
clock 15 April 2025 • 2 min read