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...
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