LV= confirms demutualisation with sale of pensions and insurance business to Bain Capital

jmb1

Regards to this I've just received an email confirming it and cash payments yet to be decided to be paid to customers. Does anyone have any idea from perhaps historical demutualisations or buyout, what this amount is likely to be per member? We've had a rocky financial year with everything as have many and so this is welcome news but would like to know even a rough ballpark figure.

https://www.professionalpensions.com/news/4024966/lv-confirms-demutualisation-sale-pensions-insurance-business-bain-capital

dunstonh

Does anyone have any idea from perhaps historical demutualisations or buyout, what this amount is likely to be per member?

It isn't worth speculating.    Some demutualisations have resulted in zero being paid.    Also, when there is a demutualisation payment, it often only applies to investment class business (and sometimes only to those invested in the With Profits fund) and not general insurance.   So, at this stage, don't get your hopes up.  Wait and see.

Sandtree

So they sold their funds business circa 2010, sold their GI business in 2017 and now sold their L&P business... what exactly will LV= be going forward?

andrewmp

I'm hoping for a tenner! 😁

FLAMPARD

Friends provident £500 for loss of membership

savit4l8er

As above, can't speculate on what any sum might be. In the old days, it was often down to your status, some payouts were pretty good for very little investment, others were poor even with a fair amount. The letter reads like this.

hollie.weimeraner

I have a life ins policy and received a letter. As I am classed as a member they state I’ll be eligible for a payout. Anything is better than nothing. I’m not expecting much but even enough for a chippy super would be welcome 🤪

planteria

Sandtree said:

So they sold their funds business circa 2010, sold their GI business in 2017 and now sold their L&P business... what exactly will LV= be going forward?

it'll be what it is now, under new ownership. Bain Capital are taking over the LV business.
it has been confirmed that members will receive a cash payment and see an uplift in their policies. further details to be provided during 2021.

FLAMPARD

Do teachers assurance policy holders who were bought by Lv benefit from the lv sale to Bain with a windfall

thanks

FLAMPARD

Answered my own question 

If you hold a Teachers with-profits, unit-linked or other life policies transferred to LV= , you are a member of Liverpool Victoria Financial Services Limited and are entitled to the range of member benefits.