Mon, 15 Jun 2020 | BUSINESS SALE
Insurance provider LV= has confirmed that it is reviewing the future of its business, with options including a potential sale. The company has reportedly engaged Fenchurch Advisory Partners to examine and advise on its options.
LV= (Liverpool Victoria Financial Services Ltd.) issued a statement saying: “LV=’s board is fully committed to maximising long term value for its members and is therefore assessing a wide range of strategic options following the disposal of the general insurance business to ensure that the remaining business continues to be operated in the best interests of all its members.
“Some but not all of these options may involve a transaction with a third party. No conclusions have yet been reached as to the most appropriate option to pursue and there can be no certainty that this review will result in any transaction being agreed or with whom. A further announcement will be made if and when appropriate.”
LV= sold its general insurance operations to Allianz last year. Cinven Limited, European Insurance Consolidation Group, Phoenix Group Holdings, Royal London, and Utmost Life and Pensions have been reported as potential bidders for the remaining parts of its business.
The mutual was founded 177 years ago and has around 1.3 million member customers. In 2019, LV= saw a revival of its fortunes, registering a £15 million pre-tax profit from continuing operations, having reported a £90 million loss the year prior.
Find businesses for sale here.
If you are looking for an exit, we can help!
The company currently specialises in the provision of managed services for global organisations in the retail and banking markets, offered on a platform-as-a-service (PaaS) basis. In recent years, significant investment has been made into the develop...
An opportunity exists to purchase the business and assets of a general practice law firm operating in the South of England. The practice has a long established heritage and provides a range of legal services including Wills & Probate, Conveyancing, F...
This practice, which was established over 40 years is available for acquisition due to retirement. The practitioner would be available to assist in the transition period to ensure a smooth handover of clients.
08
|
Nov
|
LendingMetrics eyes M&A following LDC investment | BUSINESS NEWS
Credit risk technology group LendingMetrics is on the hunt f...
08
|
Nov
|
McGregor Logistics appoints administrators | ADMINISTRATION
A Doncaster-based logistics firm McGregor Logistics has appo...
07
|
Nov
|
Christmas tree firm celebrates move to employee ownership | BUSINESS SALE
The Corporate Christmas Tree Company has made the transition...
28
|
Sep
|
Life insurer LV= in talks over potential takeover | BUSINESS NEWS
Mutually-owned life insurer LV= has confirmed that it is in ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.