Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Life insurer LV= in talks over potential takeover

Life insurer LV= in talks over potential takeover

Mon, 28 Sep 2020 | BUSINESS NEWS



Mutually-owned life insurer LV= has confirmed that it is in talks with several parties regarding a potential takeover. The group, which is the UK’s third largest mutual insurance business, sold its general insurance business to Allianz last year and launched a strategic review in June, saying that it would consider a sale of its life insurance and pension businesses.

The sale could potentially be worth more than £500 million, with reported suitors said to include the UK’s largest mutual insurer Royal London, private equity firm Bain Capital, buyout firm Cinven and listed insurer Phoenix Group Holdings. Any deal could see LV=’s 1.1 million members receive a windfall payment.

An acquisition by Royal London would create a mutual insurance firm with close to 10 million UK customers. Royal London has £139 billion in assets under management and earlier this year agreed a deal to acquire police and armed forces insurer Police Mutual. According to sources close to negotiations, Royal London would use the proceeds of a £600 million debt-raising it undertook in 2019 to finance the purchase.

In a statement to the London Stock Exchange, LV= said: "LV=notes the recent press speculation and confirms that as part of a previously announced strategic review it has been and remains in discussions with a number of parties regarding a potential transaction.”

"Discussions are on-going and there can be no certainty that the discussions will result in any transaction being agreed or with whom. LV= continues to trade well having adapted effectively to the impact of COVID-19 with a strong capital coverage ratio in excess of 200 per cent. A further announcement will be made if and when appropriate."

LV= registered pre-tax profits of £15 million in 2019, from a total income of £1.8 billion. It manages assets worth £14 billion, having become a substantially slimmed-down business after concluding the sale of its general insurance business to Allianz.


Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Specialist Recruitment Agency
UK Wide

Established employment agency specialising in supplying permanent contract and temporary candidates for vacancies in highly specialist sectors. With a strong foothold in multiple niche disciplines the company has in-depth specialist knowledge working...

Asking Price: Offers Invited
Turnover: £1,120,000

Single Site Solicitor Practice
South East, UK

Single site Solicitor practice based in the Beds, Bucks and Berks borders with good profits on a turnover of £350,000.

Asking Price: Offers Invited
Turnover: £350,000

LEASEHOLD


Independent Financial Advisory Practice
Kent, South East, UK

This is a fantastic opportunity to purchase a positively branded financial advisory firm with an innovative and contemporary approach to business whilst retaining traditional standards of excellence in client service.

Asking Price: Offers Invited
Turnover: £529,998

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
20
 
May
 

Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION

Bournemouth-based instant foods brand Mr Lee’s Pure Fo...

 
19
 
May
 

Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE

Legal services company Knights has acquired Portsmouth-headq...

 
18
 
May
 

Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS

Businesses in the UK look set to come under continuing press...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
07
 
Jan
 

Aston Lark Acquires Corporate Healthcare Specialist | BUSINESS SALE

Insurance broker Aston Lark has acquired Leicestershire-base...

 
26
 
Feb
 

Hanson-owned brickwork contractor closes down | BUSINESS NEWS

Brickwork firm Irvine-Whitlock, a subsidiary of building mat...

 
01
 
Sep
 

M&G completes acquisition of Royal London’s Ascentric | BUSINESS SALE

Investment management firm M&G has completed its acquisition...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.