UK insurer Liverpool Victoria Friendly Society (LV=) has confirmed that it is in talks with The Royal London Mutual Insurance Society Limited regarding a possible takeover of LV=.
Sources say that the transaction could be worth between £500 million and £1 billion, with the combined entity able to serve nearly 10 million customers in the UK.
Although it’s yet to be given the green light, the deal would bring together the pensions, life insurance and asset management businesses of Royal London and LV=.
Royal London is the UK’s biggest mutual life and pensions group and much larger than LV=, which sold its general insurance arm last year to German insurer Allianz.
“Discussions are on-going and there can be no certainty that the discussions will result in any transaction being agreed or with whom,” LV= confirmed in a recent statement.
“LV= continues to trade well having adapted effectively to the impact of COVID-19 with a strong capital coverage ratio in excess of 200%.”
