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

Steve Bridger to join Aviva GI

Steve Bridger to join Aviva GI

Matt McGill to takes the role

Cameron Roberts
clock 28 April 2025 • 1 min read
The COVER Review: Swiss Re Group Watch 2025, IPT and mental health

The COVER Review: Swiss Re Group Watch 2025, IPT and mental health

Week commencing 21 April 2025

COVER
clock 25 April 2025 • 1 min read
Bupa to open 70 UK mental health centres

Bupa to open 70 UK mental health centres

Face-to-face talking therapies

Jaskeet Briah
clock 24 April 2025 • 2 min read