Royal London confirms merger talks with LV= as chair Cook to step down

Offer to create 'well-capitalised mutual'

clock • 3 min read

Royal London has confirmed it is in "exploratory" talks with rival mutual LV= about a takeover are submitting a second proposal at the end of 2021.

After members voted down the private equity merger bid from Bain Capital on 10 December 2021, LV= said in a statement that it had received an unsolicited preliminary merger proposal from Royal London. "The proposal, which is on a substantively different structure to the offer received during the process in 2020, now includes the possibility of continued mutuality and is conditional on exclusive discussions," the mutual said in December. LV= has revealed a number of changes to its board as chair Alan Cook steps down from his position. Last year, after the Bain Capital deal was voted do...

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

Third of renters could only afford ten weeks off work

Third of renters could only afford ten weeks off work

Scottish Widows research

Cameron Roberts
clock 19 November 2024 • 2 min read
AXA Health appoints director of distribution and marketing

AXA Health appoints director of distribution and marketing

Richard Glassborow takes the role

Cameron Roberts
clock 18 November 2024 • 1 min read
Zurich UK adds employee neurodiversity assessments

Zurich UK adds employee neurodiversity assessments

Half of neurodivergent adults do not disclose due to stigma, research finds

Jen Frost
clock 14 November 2024 • 3 min read