Cross-government report into LV= sale to Bain Capital condemns planned demutualisation, stating insurer leadership has “not been open and transparent” with members
A group of MPs has criticised the proposed sale of LV= to private equity firm Bain Capital, announced in December last year, describing the deal as "rushed" and "wholly unnecessary". A report published yesterday (7 April) from the All-Party Parliamentary Group for Mutuals (APPG), detailing the findings of an inquiry into the planned demutualisation, concluded that the leadership of the insurer had "not been open and transparent" with its members about its intentions. The report criticised the leadership of LV= as not "open and transparent" regarding the reasoning behind the sale. L...
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