LV= sets out explanation for sale to Bain Capital

The Bain Capital bid will go to a shareholder vote next month

Tom Ellis
clock • 2 min read
LV= senior independent director David Barral
Image:

LV= senior independent director David Barral

LV= has set out a statement to explain why it chose to sell to private equity firm Bain Capital and selected its bid among 11 others last December.

After the mutual sold its general insurance business in 2017 and 2019, which it deemed necessary to bolster its "weak capital position", LV= confirmed its demutualisation and that it agreed to sell its...

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