LV= announces potential £212m pay out to members as part of Bain Capital deal

Member voting on 10 December

John Brazier
clock • 2 min read

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...

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

L&G adds manager toolkit to cancer support services

L&G adds manager toolkit to cancer support services

Tailored guidance and best practice

Jaskeet Briah
clock 08 July 2026 • 3 min read
British Friendly appoints two non-exec directors

British Friendly appoints two non-exec directors

Nicki Webber and Simon Lodge join

Jaskeet Briah
clock 07 July 2026 • 1 min read
COVER Customer Care Awards 2026: Winners revealed

COVER Customer Care Awards 2026: Winners revealed

Recognising providers in protection and health

COVER
clock 02 July 2026 • 1 min read